NFL, Hospital and China Business Earning Stripes Says Zebra CEO

Zebra Technologies (ZBRA) beat Wall Street’s consensus earnings estimate in its third quarter. The company’s CEO Anders Gustafsson said the company is getting a huge tailwind from last year’s Motorola Solutions acquisition. 'We’ve had 8% growth for the combined business year-to-date on a constant currency basis, so we are very pleased with that,' said Gustafsson. 'We’ve won some nice, new large deals and our Android business is up 170% year-to-date. Finally, China, which was challenging last year has been growing 60% this year.' On Tuesday Zebra reported third quarter Non-GAAP sales excluding the impact of purchase accounting of $919 million. Net sales were $916 million on a GAAP basis, compared to Wall Street’s estimate of $918 million. Non-GAAP net income was $72.4 million, or $1.39 per diluted share, compared with $41.6 million, or $0.81 per diluted share, for the third quarter of 2014. Wall Street’s consensus earnings estimate for Zebra’s third quarter was $1.23. Zebra expects adjusted net sales in the fourth quarter of 2015 to be within a range of $945 million to $975 million. This forecast reflects an expectation of year-over-year growth of 3.6% to 6.9% in constant currency. Non-GAAP earnings are expected in the range of $1.38 to $1.63 per share. Adjusted EBITDA are forecasted within a range of $155 million to $170 million. Wall Street’s analysts are forecasting the company to earn $1.42 per share on $968 million in revenue.