, a manufacturer of bar code printers, said fourth-quater earnings fell 11.5% from last year, led by decline in average unit prices and higher personnel and product development costs.
The company earned $28.3 million, or 40 cents a share, in the quarter, compared with $32 million, or 44 cents a share, a year ago. Analysts surveyed by Thomson First Call were expecting earnings of 39 cents a share.
Fourth quarter revenue rose 2.5% from a year ago to $179.3 million. Analysts were expecting revenue of $177.4 million.
The company expects to earn 35 cents to 40 cents a share in the first quarter, including 2 cents a share of options expense, on revenue of $175 million to $185 million. Analysts were forecasting earnings of 39 cents a share on revenue of $179.3 million.
"We are pleased with our results, which reflect ongoing spending on strategic business activities," the company said. "Our extended global reach generated sales growth in emerging and under-served regions, including China, Eastern Europe and Latin America."
Revenue in the company's international segment rose 5% to $88.7 million. Revenue from North American operations was flat at $90.6 million.
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