Improved Q2 Mexico sales buoy Brazil momentum for Zebra

- Friday, August 5, 2011

Improved Q2 Mexico sales buoy Brazil momentum for Zebra

US specialized printing equipment and RFID solutions supplier Zebra Technologies (Nasdaq: ZBRA) saw strong sales in Brazil and Mexico during the second quarter of the year, company CEO Anders Gustafsson said during a conference call with investors.

"Latin America experienced a short rebound as sales reached an all-time record. Improved sales to manufacturing customers in Mexico complemented ongoing positive momentum in Brazil," the executive said.

Gustafsson said the company also grew in other markets including Argentina, Puerto Rico and Colombia.

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"We have also seen growing interest in Zebra card printers from financial institutions for on-demand printing and issuance of credit cards," he added. "This solution is a promising opportunity for Zebra in Latin America, as well as other emerging regions."

The company posted revenues of US$24mn in Latin America during the second quarter, a 25.2% increase compared to US$19.2mn in the year-ago period.

The region accounted for 9.8% of the company's global sales for the quarter, compared to 8.8% in the year-ago period.

Global revenues during the second quarter increased 12.3% year-on-year to US$246mn. The company's quarterly net profits reached US$33mn in Q2, compared to US$22mn in the year-ago period.

Use this link to see the full financial results.