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Zebra Applied sciences Company (NASDAQ: ZBRA), a producer of barcode printers and scanners, reported decrease gross sales and internet revenue for the three months that ended December 2023.
- Zebra’s fourth-quarter internet gross sales decreased sharply by 33% year-over-year to $1.0 billion
- Consolidated natural internet gross sales dropped 33.1% within the fourth quarter
- Web earnings was $17 million or $0.31 per share, which represents year-over-year decreases of 91% and 91.3%, respectively
- On an adjusted foundation, internet earnings decreased 64% yearly to $1.71 per share in the course of the three months
- Fourth-quarter 2023 gross revenue was $448 million, in comparison with $685 million within the prior-year interval
- At $155 million, adjusted EBITDA was down 54.1% year-over-year within the fourth quarter
- The corporate expects its cost-reduction plans to drive $120 million annualized internet expense financial savings, up from $100 million