Exhibit 99.1
zebralogo.jpg
Zebra Technologies Corporation
 
3 Overlook Point
Lincolnshire, IL 60069 USA
T: +1 847 634 6700
F: +1 847 913 8766
www.zebra.com
Zebra Technologies Announces Fourth-Quarter and Full-Year 2016 Results

Financial Highlights
Achieved strong fourth-quarter net sales at the top end of our guidance
Fourth-quarter net income of $17 million; non-GAAP net income of $102 million
Fourth-quarter adjusted EBITDA increased 18% year-over-year to $179 million; and adjusted EBITDA margin expanded 310 basis points to 19.0%
$382 million repayment of debt principal in 2016
Generated $372 million of cash from operations and $295 million of free cash flow in 2016

Lincolnshire, Ill., Feb. 23 2017 — Zebra Technologies Corporation (NASDAQ: ZBRA), a global leader in providing solutions and services that give enterprises real-time visibility into their operations, today announced results for the fourth quarter and full year ended December 31, 2016.

“We delivered solid fourth-quarter and full-year results, driven largely by strong demand for our innovative solutions. We returned to organic sales growth, expanded gross margin and reduced operating expenses, resulting in a significant improvement in profitability. We also continued to realize working capital efficiencies and divested the non-core wireless LAN business, enabling Zebra to exceed our debt reduction goals,” said Anders Gustafsson, chief executive officer of Zebra Technologies. “I’m proud of our teams for a strong finish to the year and success in extending Zebra’s leadership in the markets we serve. Zebra is well positioned to continue to deliver visibility solutions for the smarter enterprise and drive shareholder value.”
$ in millions, except per share amounts
4Q16
4Q15
Change
 
FY16
FY15
Change
Select reported measures:
 
 
 
 
 
 
 
Net sales
$
942

$
951

(0.9
)%
 
$
3,574

$
3,650

(2.1
)%
Gross profit
432

428

0.9
%
 
1,642

1,644

(0.1
)%
Net income (loss)
17

(28
)
160.7
%
 
(137
)
(158
)
13.3
%
Net earnings (loss) per diluted share
$
0.34

$
(0.53
)
164.2
%
 
$
(2.65
)
$
(3.10
)
14.5
%
 
 
 
 
 
 
 
 
Select Non-GAAP measures:
 
 
 
 
 
 
 
Adjusted net sales
$
944

$
955

(1.2
)%
 
$
3,584

$
3,666

(2.2
)%
   Organic net sales growth
 
 
3.5
%
 
 
 
0.4
 %
Adjusted gross profit
435

432

0.7
%
 
1,654

1,667

(0.8
)%
   Adjusted gross margin
46.1
%
45.2
%
90 bps

 
46.1
%
45.5
%
60 bps

Adjusted EBITDA
179

152

17.8
%
 
628

595

5.5
%
   Adjusted EBITDA margin
19.0
%
15.9
%
310 bps

 
17.5
%
16.2
%
130 bps

Non-GAAP net income
$
102

$
68

50.0
%
 
$
293

$
265

10.6
%
Non-GAAP earnings per diluted share
$
1.93

$
1.30

48.5
%
 
$
5.60

$
5.08

10.2
%

Reported (GAAP) results
GAAP net sales were $942 million in the fourth quarter of 2016 compared to $951 million in the fourth quarter of 2015. Fourth quarter 2016 gross profit was $432 million compared to $428 million in the comparable prior year



The following information was filed by Zebra Technologies Corp (ZBRA) on Thursday, February 23, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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