EVERETT – Intermec Inc. posted higher sales in the second quarter, but a one-time charge to close company facilities in Sweden helped to slightly reduce income compared to last year.
For the quarter, the Everett-based maker of handheld computers, bar-code scanners and related technology reported net income of $11.3 million, or 18 cents a share.
That compared to $11.9 million in the same period of 2005.
Revenue, though, was up to $231 million, compared to $217 million in the same quarter last year. Larry Brady, Intermec’s chairman and chief executive officer, said worldwide revenue grew by 6.4 percent, with the best sales growth coming in North and South America and Asia.
Total expenses for the quarter reached $217 million, up noticeably from $199 million last year.
Brady noted that the most recent quarter’s results included a $1 million charge to close design centers in Goteborg and Lund, Sweden. The company gained $2.3 million, however, from an investment in a company that was sold to Lockheed Martin in June.
Intermec will begin to buy back up to $100 million of its shares in the coming days. That stock repurchase, authorized by the board of directors in March, was delayed by talks to settle a range of patent disputes with Symbol Technologies, Intermec’s bigger competitor, Brady said.
Talk to us
> Give us your news tips.
> Send us a letter to the editor.
> More Herald contact information.
