Zebra posts 4Q profit of $17.6 million despite drop in revenue

Zebra posts 4Q profit of $17.6 million

LINCOLNSHIRE, Ill. — Zebra Technologies Corp. made a profit in the fourth quarter, free of the one-time expenses that left it with a loss a year ago.

The company, which makes bar code and plastic card printers, also offered a first-quarter forecast above Wall Street expectations.

Its shares rose 7 cents to $27.41 in midday trading.

Zebra earned $17.6 million, or 30 cents per share, in the three months ended Dec. 31. It lost $117.4 million, or $1.88 per share, a year ago, when the company booked hefty charges related to restructuring and the falling value of its assets.

Zebra said the latest results included 3 cents per share in restructuring costs.

Revenue slipped 4 percent to $222.5 million from $232.6 million a year ago.

Analysts polled by Thomson Reuters, who typically exclude one-time costs, expected lower earnings of 25 cents per share and lower revenue of $206.6 million.

Full-year earnings came to $47.1 million, or 79 cents per share, compared with a loss of $38.4 million, or 60 cents per share, in 2008. Revenue fell to $803.6 million from $976.7 million.

Zebra said it expects a first-quarter profit of 25 cents to 32 cents per share, including 2 cents worth of restructuring charges. It expects sales of between $217 million and $230 million.

Analysts expected 26 cents per share and $203.7 million.