Zebra Technologies posts jump in 1Q earnings

LINCOLNSHIRE, Ill.

Zebra Technologies Corp. said Tuesday its first-quarter profit more than doubled from a year ago as demand improved.

The company, which makes bar code and plastic card printers, also said it hired more workers during the quarter, expanding its sales and marketing staff.

It earned $24.7 million, or 42 cents per share, compared with $9.4 million, or 16 cents per share, a year earlier.

Taking out restructuring costs in the most recent quarter, earnings came to 44 cents per share. That was well ahead of the average analyst estimate of 31 cents, according to Thomson Reuters.

Revenue jumped 18 percent to $226.4 million. Analysts expected $223 million.

Looking ahead, Zebra forecast a second-quarter profit of 26 cents to 34 cents per share, including a penny per share in restructuring costs. Revenue is expected at $219 million to $233 million.

Analysts were looking for 33 cents per share and revenue of $222 million.

The company's stock rose 8 cents to $28.74 in midday trading.