Business News

Zebra Technologies Board Authorizes Five Million Share Stock Repurchase Program

Wednesday 29. October 2008 - Zebra Technologies Corporation (NASDAQ:ZBRA) today announced that its Board of Directors has authorized the purchase of five million shares of Zebra Technologies Corporation Common Stock, which represents approximately 8 percent of total shares outstanding.

These purchases would be made from time to time, in the open market or in private transactions. This authorization follows completion of the purchase of three million shares of Zebra stock under an authorization from the company’s Board of Directors in February 2008.

Zebra currently has approximately 63.3 million shares of common stock outstanding.

“Zebra has bought back more than eight million shares over the past two years,” stated Anders Gustafsson, Zebra’s chief executive officer. “These purchases and the current authorization are a vote of confidence in Zebra’s prospects for growing shareholder value as the global leader in delivering solutions that lower our customers’ supply chain costs and improve efficiency. Zebra is well-capitalized, with nearly $247 million in cash and investments and no debt and a business that generates substantial free cash flow. We can use this financial strength to enhance long-term growth and improve profitability by reducing costs and expanding into underserved geographic regions, introducing innovative new products and serving more customers in targeted vertical markets with a broader range of high-value solutions.”