EVERETT — Intermec Inc. saw sales grow solidly from last year during the second quarter, but the company’s profit slipped slightly, in part because of flood damage to its operations in the Midwest.
The maker of hand-held computers, bar-code scanners and other inventory-tracking technology said its second-quarter revenue reached $218 million, up 4 percent from the year-ago period.
That fell short, however, of the company’s earlier prediction that it would generate up to $232 million during the quarter.
Intermec’s net income for the quarter was $7.7 million, or 13 cents a share, compared with $7.9 million a year ago.
Sales in Latin America, Asia and the Pacific fell by double-digit percentages, while business grew in North America, Europe and the Middle East and Africa, Intermec’s chief executive officer, Patrick Byrne, told investors.
The company this week announced a large order for hand-held computers from Britain’s Royal Mail. But other potential orders are being delayed as companies review spending in uncertain economic times, Byrne said.
For the foreseeable future, “we remain cautious about enterprise spending, especially in the U.S.,” he said.
During his first year at the helm of the largest public company based in Snohomish County, Byrne’s stated goal has been to aggressively increase sales while holding costs in check. Earlier this month, Intermec said it would lay off an estimated 180 employees in Everett as the company outsources its production work to Asia.
That move, expected to be completed in the next 12 months, will save money over time, Byrne said, although it will cost the company a one-time charge in the coming months of $7 million to $9 million.
Meanwhile, Intermec took a one-time charge in the second quarter of $1.1 million for expenses related to floods that damaged the Company’s Cedar Rapids, Iowa, facility.
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