Zebra Technologies Corp.'s (ZBRA) first-quarter 2013 net income dropped to $23.54 million, or $0.46 per share, from $30.16 million, or $0.58 per share, a year before. On average, 8 analysts polled by Thomson Reuters expected earnings per share of $0.63 for the quarter. Analysts' estimates typically exclude one-time items. The recent quarter's per-share earnings included exit, restructuring and acquisition costs that reduced earnings by $0.04 per share, the company said in a statement.
Net sales for the period slid 2.8% to $236.94 million, from $243.88 million for the first quarter of 2012. Analysts estimated revenues of $249.08 million for the quarter.
Quarterly net sales were hurt by the ongoing challenged conditions in Europe and Asia, along with a slowdown in business during the first few weeks of the quarter in North America. Sales increases of 3.8% in Latin America and 0.9% in North America were offset by sales declines of 0.7% in Asia Pacific and 9.8% in the Europe, Middle East and Africa or EMEA region. On a constant-currency basis, sales in EMEA were down by 2.8%.
For the second quarter of 2013, net sales are expected within a range of $246 million to $258 million, and earnings per share within a range of $0.58 to $0.67. Analysts project second-quarter earnings of $0.68 per share and revenue of $254.49 million.
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