Thursday, identification and data collection products maker Intermec, Inc. (IN) posted a decline in fourth-quarter profit from a year-ago on a sizeable decrease in product revenue.
Intermec's fourth-quarter net earnings from continuing operations declined to $6.0 million or $0.10 per share, compared to net earnings from continuing operations of $9.3 million or $0.15 per share.
Excluding restructuring charges, non-GAAP adjusted net earnings were $7.6 million or $0.12 per share. Analysts polled by Thomson Reuters expected earnings of $0.05 per share. Analysts' estimates typically exclude one-time items.
Consolidated revenue declined to $179.1 million from $221.5 million; well above Wall Street revenue expectations of $166.50 million.
Segment-wise, product revenue decreased to $141.77 million from $182.67 million, while service revenue declined to $37.34 million from $38.79 million. In its product line, revenue from systems and solutions decreased 28% and revenue from printers and media declined 5%.
Geographically, revenue in North America declined 33%, Europe, Middle East and Africa revenues declined 8%; down 16% when adjusting for currency translation compared to the prior-year quarter. Revenue from Latin America increased 43%, while Asia Pacific revenue was virtually flat.
Intermec's gross profit margins of 39.7%, increased 0.5 percentage points over the prior-year period. Operating expenses excluding restructuring charges of $1.9 million were $61.9 million in the quarter, lower by 19% compared to $76.8 million in the year-ago period. Operating profit from continuing operations was $7.3 million or 4.1% of total revenue compared with $7.6 million or 3.4% of total revenue in the year-earlier quarter.
Full year net loss from continuing operations was $10.9 million or $0.17 per share, compared to net earnings from continuing operations was $35.7 million or $0.58 per share. This year's results include a pre-tax restructuring charges of $20.6 million or $0.22 per share, while last year's results include a pre-tax restructuring charges of $5.7 million or $0.06 per share.
Excluding restructuring charges, non-GAAP adjusted earnings from continuing operations was $2.6 million or $0.05 per share. Analysts expected a loss of $0.03 per share this year.
Full year revenue decreased to $658.2 million from $890.9 million; comparable to analysts expectations of $645.59 million.
For the third-quarter, the company expect a loss of $0.01 per share to earnings of $0.03 per share. Revenue is expected to be $155 million to $165 million, compared to revenue of $163 million in the prior-year period.
Excluding restructuring charges of approximately $2 million, non-GAAP earnings per share is expected to be $0.01 to $0.05. Analysts expect earnings $0.03 per share on revenue of $161.65 million for the first-quarter.
IN closed Thursday's regular trading session at $12.94, down $0.73 or 5.34%, on the NYSE.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.