Zebra Technologies reports sales dip

LINCOLNSHIRE - Zebra Technologies Corp. reported financial results of its fiscal year first quarter Tuesday, including net sales of $1.40 billion, down 1.9% compared to 1.43 billion in the same period a year ago.

Net income was $150 million in the quarter, down 27% from $205 million a year ago.

Net income per diluted share was $2.90, as compared to $3.83 in fiscal year 2022, down 24%.

"Our team executed well in a challenging environment, delivering first quarter sales and earnings results above the midpoint of our outlook," said Bill Burns, chief executive officer of Zebra Technologies.

The company, which sells equipment and systems that automate workflows, is mitigating the impact of softer sales with focused go-to-market initiatives and incremental cost actions, Burns said.