SYMBOL TECHNOLOGIES REPORTS 2000 FOURTH QUARTER AND FULL-YEAR RESULTS Friday 2 March 2001 PDF Print ...Increasing use of mobile devices continues momentum in 2001... Symbol Technologies, a global leader in mobile data management systems, has announced its results for the fourth quarter and full year ended December 31, 2000. Revenue for the fourth quarter ended December 31, 2000, was $414.8 million, 32.7 percent higher than the $312.5 million year-on-year. Net income, before non-recurring charges associated with the acquisition of Telxon Corporation, was $23.5 million or $0.17 diluted earnings per share, compared to $33.5 million, or $0.24 diluted earnings per share year-on-year. Net income for the fourth quarter ended December 31, 2000, included approximately $0.14 per share dilution associated with the operations of Telxon Corporation. Including non-recurring charges consisting of restructuring, impairment and merger integration of $113.2 million after tax, and in-process research and development charges of $87.6 million after tax, the net loss for the fourth quarter was $177.3 million or $1.26 per share. Revenue for the year ended December 31, 2000, was $1.450 billion, 27.3 percent higher than the $1.139 billion in the corresponding year-earlier period. Net income, before non-recurring charges associated with the acquisition of Telxon Corporation was $131.9 million, or $0.96 diluted earnings per share compared to $116.4 million or $0.82 diluted earnings per share in the year-earlier period. Including non-recurring charges consisting of restructuring, impairment, merger integration and in-process research and development, the net loss for the year ended December 31, 2000 was $68.9 million or $0.50 per share. "We were very pleased with our performance in the fourth quarter and the full year 2000, particularly the bookings momentum that has continued into 2001," said Tomo Razmilovic, president and CEO. "The integration of Telxon is proceeding well and we are on track to achieve the synergies we have targeted. Although conditions can change quickly and dramatically in the current economic environment, we don't see a softening in our overall business activity." "We remain optimistic about Symbol's long-term prospects," said Jerome Swartz, chairman. "The continuing need of our customers to cut costs, improve efficiencies, and create new revenue streams coupled with the increasing use of mobile devices and the ongoing evolution of the hybrid 'brick-and-click' extended supply chain bodes well for Symbol for the foreseeable future." An audio report of Symbol's US press tele-conference will be available indefinitely through the Symbol website at http://www.symbol.com About Symbol Symbol Technologies, winner of the USA National Medal of Technology, is a global leader in mobile data transaction systems, providing innovative customer solutions based on wireless local area networking for data and voice, application-specific mobile computing and bar code data capture. Symbol's wireless information appliances connect the physical world of people on the move, packages, paper and shipping pallets, to information systems and the Internet. Today, some 10 million Symbol bar code scanners, mobile computers and wireless LANs are utilised worldwide in markets ranging from retailing to transportation and distribution logistics, manufacturing, parcel and postal delivery, government, healthcare and education. Symbol's systems and products are used to increase productivity from the factory floor to the retail store, to the enterprise and out to the home. Information about Symbol is available at http://www.symbol.com NB: This news release contains forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include price and product competition, dependence on new product development, reliance on major customers, customer demand for our product and services, control of costs and expenses, international growth, general industry and market conditions and growth rates and general domestic and international economic conditions including interest rate and currency exchange rate fluctuations. For a further list and description of such risks and uncertainties, see the reports filed by Symbol with the Securities and Exchange Commission. 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