Zebra Technologies Completes Restatement of Certain Prior Period Financials
No Impact on Current Cash Balance or Future Business Operations
Third Quarter 2016 Earnings Release and Conference Call on Nov. 15
LINCOLNSHIRE, Ill., Nov. 14, 2016 /PRNewswire/ -- Zebra Technologies Corporation (NASDAQ: ZBRA), a global leader in providing solutions and services that give enterprises real-time visibility into their operations, today announced that it has completed its previously announced restatement and filed its amended Annual Report on Form 10-K/A for the fiscal year ended December 31, 2015, and its amended Quarterly Reports on Form 10-Q/A for the periods ended April 2, 2016 and July 2, 2016. The amended filings and supplemental financial information are available on the company's investor relations website.
As previously announced, the restated results correct errors related to the underaccrual of certain 2015 estimates, most notably for the company's sales commission plan, net realizable value of acquired trade receivables, and income taxes. After adjusting for these errors, the GAAP pre-tax loss for the first six months of 2016 decreased (increasing profitability) by $11 million ($7 million after tax). For the fourth quarter and full year ended Dec. 31, 2015, the pre-tax loss increased by $16 million, and the after-tax loss increased by $21 million including the corrections to income tax accounting. These adjustments do not have any impact on Zebra's current cash balance or future business operations.
Third Quarter 2016 Results Conference Call
As previously announced, Zebra will report its third-quarter 2016 financial results on Tuesday, Nov. 15, 2016. The company will also host a conference call to discuss these results on the same day at 7:30 a.m. CT (8:30 a.m. ET). To listen to the live webcast of the presentation, visit the investor relations section of the company's website at investors.zebra.com. The webcast will be archived and available on the website for at least one year following the call.
About Zebra
With the unparalleled visibility Zebra (NASDAQ: ZBRA) provides, enterprises become as smart and connected as the world we live in. Real-time information – gleaned from visionary solutions including hardware, software and services – give organizations the competitive edge they need to simplify operations, know more about their businesses and customers, and empower their mobile workers to succeed in today's data-centric world. For more information, visit www.zebra.com or sign up for our news alerts. Follow us on LinkedIn, Twitter and Facebook.
| Contacts |
|
| Investors: |
Media: |
| Michael Steele , CFA, IRC |
Therese Van Ryne |
| Vice President, Investor Relations |
Director, Global Public Relations |
| Phone: + 1 847 793 6707 |
Phone: + 1 847 370 2317 |
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SOURCE Zebra Technologies Corporation
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