Zebra Technologies reports strong earnings

Zebra Technologies Corp., a maker of bar-code printers, said fourth-quarter profit rose 43 percent.

"We had a solid year," said Anders Gustafsson, the company's chief executive officer. "The majority of our sales are now outside the United States."

The Vernon Hills-based firm reported net income in the latest quarter rose to $30.8 million, or 45 cents a share. Revenue increased 11 percent to $233.6 million.

Zebra also reported that its Vernon Hills headquarters and factory will be reduced by 325 jobs. In the next year and a half to two years the company will let go 650 employees between Illinois and California work sites, according to the firm.

The company credited its fourth-quarter results and first-quarter guidance to strong international growth, North American sales and acquired businesses.

International sales are a priority with Zebra, Gustafsson said.

"The world economy is an opportunity for us," he said. "We are looking forward with confidence."

In addition, Zebra said its board authorized the purchase of 3 million additional shares, which represent 4.5 percent of its outstanding stock. The authorization follows the completion of the company's previously announced 3 million-share purchase program.