Zebra Technologies still "optimistic" on Latin America despite lower Q1 growth

Monday, May 16, 2011

US specialized printing equipment and RFID solutions supplier Zebra Technologies (Nasdaq: ZBRA) continues to have a positive outlook for Latin America despite lower growth in the first quarter of the year, company CEO Anders Gustafsson said during a conference call with investors.

"For the quarter, we had strong growth in supplies, as manufacturing in Mexico continued to recover," he said.

The company posted revenues of US$20.1mn in Latin America during the first quarter of 2011, a 3.2% increase compared to US$19.5mn in the year-ago period. Zebra did not provide reference to previous quarterly growth to compare the level of the slowdown.

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The region accounted for 8.5% of the company's global sales for the quarter, compared with 9.2% in the year-ago period.

Global revenues during the first quarter reached US$237mn, up 11.9% on US$212mn recorded during the same period in 2010.

The company's quarterly net profits reached US$1.1mn in Q1, climbing 162% year-on-year.

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