Investors are invited to wait upon Zebra's Analyst Day, which will be held on February 29, 2008, at the Grand Hyatt New York in New York City. Please take in the company's Web location at for details and to register. Forward-looking Statement This depress put out contains forward-looking statements, as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation, the statements on the company's fiscal augur for the fundamental quadrature of 2008 stated in the paragraph above.
Actual results may depart from those expressed or implied in the company's forward-looking statements. These statements note estimates only as of the year they were made. Zebra may first-rate to update forward-looking statements but absolutely disclaims any devoir to do so, even if the company's estimates change.
These forward-looking statements are based on au courant expectations, forecasts and assumptions and are case to the risks and uncertainties innate in Zebra's industry, trade conditions, communal familial and worldwide money-making conditions, and other factors. These factors incorporate market-place conditions in North America and other geographic regions and demand acceptance of Zebra's printer and software products and competitors' issue offerings and the capacity crap of technological changes. Other factors subsume U.S. and extrinsic regulations that pertain to electrical and electronic equipment, including European Union and other provinces directives relating to the collection, recycling, healing and disposal of products and the reduction or elimination of specific specified materials in such products.
Zebra's non-starter to concur with these regulations may course Zebra to penalties, forbid Zebra from selling its products in a changeless country, or multiplication the price of supplying the products. Profits and profitability will be troubled by the company's wit to dominance manufacturing and operating costs. Because of a weighty investment portfolio, talk into rates and economic exchange conditions will also have an colliding on results. Foreign reciprocity rates will have an effectuate on financial results because of the beneficent percentage of our international sales.
The after-effect of litigation in which Zebra is involved, and unusually litigation or claims affiliate to alleged infringement of third-party mental property rights, is another factor. In addition, the acquisitions of WhereNet, which was completed in January 2007, proveo, which was completed in the third fifteen minutes of 2007, and Navis, which was completed in December 2007, have risks relating to integrating these companies' businesses and operations with Zebra's. These and other factors could have an adverse bring about on Zebra's revenues, repulsive literary behoof margins and results of operations and development the volatility of our pecuniary results. When second-hand in this emancipate and documents referenced, the words "anticipate," "believe," "estimate," and "expect" and like expressions, as they ally to the performers or its management, are intended to put one's finger on such forward-looking statements, but are not the snobbish means of identifying these statements. Descriptions of the risks, uncertainties and other factors that could wear the company's time to come operations and results can be found in Zebra's filings with the Securities and Exchange Commission.
In particular, readers are referred to Zebra's Form 10-K for the year ended December 31, 2006. Zebra Technologies Corporation helps companies identify, road and conduct assets, transactions and settle with on-demand specialty digital printing and unconscious credentials solutions. In more than 100 countries around the world, more than 90% of Fortune 500 companies use innovative and sure Zebra printers, supplies, RFID products and software to widen productivity, rectify quality, abase costs, and carry better purchaser service.
Information about Zebra and Zebra-brand products can be found at. CONTACT: Investors: Media: Douglas A. Fox, CFA Michelle Meek Director, Investor Relations Outlook Marketing Services +1 847 793 6735 +1 312 873 3424 ZEBRA TECHNOLOGIES CORPORATION CONSOLIDATED BALANCE SHEETS (Amounts in thousands) December 31, December 31, 2007 2006 ASSETS Current assets: Cash and dough equivalents $38,211 $39,648 Restricted bread 2,497 1,366 Investments and marketable securities 98,438 219,930 Accounts receivable, strainer 150,775 122,540 Inventories, capture 85,038 81,190 Deferred takings taxes 14,772 9,464 Prepaid expenses and other drift assets 31,101 5,552 Total informed assets 420,832 479,690 Property and outfit at cost, less accumulated depreciation and amortization 67,686 57,431 Long-term deferred revenue taxes 28,407 11,917 Goodwill 246,510 70,714 Other intangibles, concluding 119,424 34,025 Long-term investments and marketable securities 142,033 298,245 Other assets 9,386 11,120 Total assets $1,034,278 $963,142 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts due $42,351 $28,980 Accrued liabilities 79,070 43,191 Income taxes outstanding 751 2,683 Total flow liabilities 122,172 74,854 Deferred split 961 638 Other long-term liabilities 8,452 9,969 Total liabilities 131,585 85,461 Stockholders' equity: Preferred Stock - - Class A Common Stock 722 722 Additional paid-in top 141,522 139,083 Treasury usual (205,058) (119,335) Retained pay 960,512 850,399 Accumulated other extensive gain 4,995 6,812 Total stockholders' disinterest 902,693 877,681 Total liabilities and stockholders' tolerance $1,034,278 $963,142 ZEBRA TECHNOLOGIES CORPORATION CONSOLIDATED STATEMENTS OF EARNINGS (Amounts in thousands, exclude per division data) Three Months Ended Year Ended Dec. 31, Dec. 31, Dec. 31, Dec. 31, 2007 2006 2007 2006 Net sales $233,573 $209,903 $868,279 $759,524 Cost of sales 120,275 111,493 451,161 401,104 Gross promote 113,298 98,410 417,118 358,420 Operating expenses: Selling and marketing 35,683 27,702 121,996 96,788 Research and maturity 15,642 12,768 57,600 48,959 General and administrative 21,854 18,284 81,356 62,656 Amortization of imprecise assets 3,257 1,394 11,128 3,653 Insurance receivable preserve - 12,543 - 12,543 Litigation colonization - - - 53,392 Acquired in-process into or and evolvement - - 1,853 - Total operating expenses 76,436 72,691 273,933 277,991 Operating return (loss) 36,862 25,719 143,185 80,429 Other proceeds (expense): Investment receipts 8,545 6,980 23,966 23,182 Interest sacrifice 49 (16) (44) (252) Foreign altercation gains 553 (822) 523 (635) Other, ultimate 182 (170) (255) (1,082) Total other profit 9,329 5,972 24,190 21,213 Income before income taxes and cumulative purpose of accounting modulation 46,191 31,691 167,375 101,642 Income tithe 15,388 10,245 57,262 32,015 Income before cumulative conclusion of accounting cash 30,803 21,446 110,113 69,627 Cumulative impression of accounting vacillate (net of onus take place of $694) - - - 1,319 Net income $30,803 $21,446 $110,113 $70,946 Basic income per allowance before cumulative purport of accounting coppers $0.46 $0.31 $1.61 $0.99 Diluted stipend per piece before cumulative make of accounting vary $0.45 $0.30 $1.60 $0.98 Basic proceeds per percentage $0.46 $0.31 $1.61 $1.01 Diluted takings per equity $0.45 $0.30 $1.60 $1.00 Basic weighted normal shares super 67,472 70,108 68,463 70,516 Diluted weighted mean and counterpart shares prominent 67,913 70,499 68,908 70,956 ZEBRA TECHNOLOGIES CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS (Amounts in thousands) Year Ended December 31, 2007 2006 Cash flows from operating activities: Net income $110,113 $70,946 Adjustments to resolve differences between take income to effective bills provided by operating activities: Depreciation and amortization 26,902 16,087 Share-based compensation 15,067 7,540 Excess assess profit from share-based compensation (921) (1,514) Cumulative outcome of accounting swap (net of tax) - (1,319) Acquired in-process technology 1,853 - Insurance receivable contract for - 12,543 Deferred income taxes (5,477) (6,737) Changes in assets and liabilities, catch of businesses acquired: Accounts receivable, bottom-line 4,453 (4,292) Inventories (134) (13,430) Other assets (1,321) (483) Accounts unpaid (3,418) (1,869) Accrued liabilities 16,479 8,559 Income taxes owed (1,337) 2,586 Other operating activities (26,064) (552) Net scratch provided by operating activities 136,195 88,065 Cash flows from investing activities: Purchases of belongings and accoutrements (22,070) (19,197) Acquisition of businesses, end of ready acquired (286,761) (2,681) Acquisition of indefinite assets (4,800) (18,091) Purchases of investments and marketable securities (1,009,196) (1,110,472) Maturities of investments and marketable securities 913,904 757,249 Sales of investments and marketable securities 374,107 374,666 Net spondulix cast-off in investing activities (34,816) (18,526) Cash flows from financing activities: Purchase of bank shares (107,390) (68,221) Proceeds from work out of cache options and standard toe-hold scheme purchases 3,671 10,402 Excess toll improve from share-based compensation 921 1,514 Net currency hand-me-down in financing activities (102,798) (56,305) Effect of stock market gauge changes on mazuma (18) 1,972 Net distend (decrease) in lolly and change equivalents (1,437) 15,206 Cash and money equivalents at beginning of year 39,648 24,442 Cash and hard cash equivalents at end of year $38,211 $39,648 Supplemental disclosures of specie spurt information: Interest paid $44 $252 Income taxes paid 62,130 33,070 Supplemental disclosures of non-cash transaction: Purchase of funds shares not paid until 2007 $ - $4,704 ZEBRA TECHNOLOGIES CORPORATION SUPPLEMENTAL SALES INFORMATION (Amounts in thousands) (Unaudited) Sales by Product Category Three Months Ended Dec. 31, Dec. 31, Percent Percent of 2007 2006 Change Total Sales Hardware $177,394 $163,081 8.8 75.9 Supplies 41,580 38,578 7.8 17.8 Service and software 14,120 6,954 103.0 6.0 Shipping and handling 1,744 1,610 8.3 0.8 Cash go from hedging activities (1,265) (320) NM (0.5) Total sales $233,573 $209,903 11.3 100.0 Sales by Geographic Region Three Months Ended Dec. 31, Dec. 31, Percent Percent of 2007 2006 Change Total Sales Europe, Middle East and Africa $93,895 $74,440 26.1 40.2 Latin America 15,452 13,854 11.5 6.6 Asia-Pacific 16,100 16,723 (3.7) 6.9 Total supranational 125,447 105,017 19.5 53.7 North America 108,126 104,886 3.1 46.3 Total sales $233,573 $209,903 11.3 100.0 Sales by Product Category Year Ended Dec. 31, Dec. 31, Percent Percent of 2007 2006 Change Total Sales Hardware $660,034 $578,002 14.2 76.1 Supplies 161,678 150,709 7.3 18.6 Service and software 42,801 25,664 66.8 4.9 Shipping and handling 6,826 6,022 13.4 0.8 Cash drift from hedging activities (3,060) (873) NM (0.4) Total sales $868,279 $759,524 14.3 100.0 Sales by Geographic Region Year Ended Dec. 31, Dec. 31, Percent Percent of 2007 2006 Change Total Sales Europe, Middle East and Africa $320,225 $264,711 21.0 36.9 Latin America 60,090 53,619 12.1 6.9 Asia-Pacific 71,871 61,374 17.1 8.3 Total intercontinental 452,186 379,704 19.1 52.1 North America 416,093 379,820 9.6 47.9 Total sales $868,279 $759,524 14.3 100.
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