Newsgroup: it.economia.borsa
Titolo: Symbol Technologies Reports Third-Quarter Results

    HOLTSVILLE, N.Y.--(BUSINESS WIRE)--Oct. 17, 2002--Symbol
Technologies, Inc. (NYSE:SBL), a global leader in mobile information
management systems, today announced its results for the third quarter
ended September 30, 2002.
    Revenue for the third quarter ended September 30, 2002, was $339.5
million, compared to $331.2 million in the corresponding year-earlier
period. Net earnings, presented in accordance with generally accepted
accounting principles (GAAP), were $13.1 million, or $0.06 diluted
earnings per share, compared to a net loss of $35.7 million, or $0.16
per share, in the corresponding year-earlier period. Excluding a
nonrecurring charge of $2.5 million, after tax, related to the hiring
of the Company's president and chief operating officer, net earnings
for the third quarter of 2002 were $15.6 million, or $0.07 diluted
earnings per share. Excluding a nonrecurring charge associated with
the reorganization of the Company's manufacturing facilities of $48.3
million, after tax, net earnings for the third quarter of 2001 were
$12.6 million, or $0.06 diluted earnings per share.
    As previously disclosed, the Securities and Exchange Commission
has initiated an investigation with respect to certain accounting
matters, principally concerning the timing and amount of revenue
recognized by the Company during the period from Jan. 1, 2000, to Dec.
31, 2001. More recently, the Company has learned that the United
States Attorney's Office for the Eastern District of New York has
commenced a related investigation. The Company has been informed that
it is not currently a target of that investigation. The Company is
cooperating with both investigations.
    In addition, the Company has commenced, as previously disclosed,
its own investigation of these matters with the assistance of an
outside law firm and independent accounting firm. The Company expects
to complete the internal investigation this quarter, and, based on
preliminary findings of the internal investigation, the Company
believes that it may well have to restate its revenue and income
previously reported in financial statements principally issued with
respect to 2000, 2001 and 2002. However, the amounts and time periods
of any potential restatement have not been ascertained. In addition,
prior to there being any restatement, the results of the internal
investigation must be reviewed by the Company's independent auditors.
    Based on preliminary findings, the Company currently believes that
the revenue to be reversed or reversed and restated in later fiscal
years or otherwise adjusted as a result of a restatement would amount
to less than 10 percent of the revenue originally reported for the
fiscal years 2000 and 2001. The Company further expects, based on the
investigation to date, that the potential restatement would likely
result in a net reduction of previously reported net income and
revenue in 2000 and a net increase in previously reported net income
and revenue in 2001 and 2002. Such a restatement is not expected to
have a material impact on the Company's balance sheet as of Sept. 30,
2002. Because the initial investigation is not yet complete, any
actual restatement may vary from the foregoing estimates, may involve
other issues, and would likely affect comparisons between currently
reported amounts and amounts reported for previous periods.
    "We are confident in Symbol's fundamentals and have already made
numerous changes in operating procedures and systems to address the
issues that have come to light in the review process. I can assure our
investors, partners, customers and Associates that we are determined
to facilitate the earliest possible and most complete closure of
outstanding legal and accounting issues so that Symbol is in a
position to realize its full potential for the benefit of all of our
constituencies," said Richard Bravman, Vice Chairman and Chief
Executive Officer.
    "Symbol is pleased to report sequential quarterly and
year-over-year improvement in revenue, profit and balance sheet
performance. Although these are challenging times, we have reason to
be confident - albeit cautiously so - that we can continue to grow and
drive steady improvements in financial results, in spite of the
continuing depressed state of IT capital spending and uncertainties in
the broader macroeconomic and geopolitical environment," said William
Nuti, President and Chief Operating Officer.
    A conference call has been scheduled for today beginning at 4:45
pm ET and may be accessed through the Symbol website at
www.symbol.com/investors
 or by using the telephone dial-in number
which is: 
719-457-2653
. A telephonic replay will be available today
beginning at 7:45 pm ET through October 24th on a 24-hour non-stop
basis. The dial-in number to access this replay is: 
719-457-0820
 --
Pass Code: 646918. Also, an audio taped replay will be available
indefinitely through the Symbol website.
    Symbol Technologies, founded in 1975, is a global leader in secure
mobile information systems that integrate application-specific
hand-held computers with wireless networks for data and voice and bar
code data capture. Symbol products and services increase productivity
and reduce costs for the world's leading retailers, logistics and
transportation companies, government agencies, manufacturers and
providers of healthcare, hospitality and security. More information is
available at 
www.symbol.com
 and 
1-800-722-6234
 or 
631-738-2400
.
    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. Symbol disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a result
of new information, future events or otherwise.
-0-
*T
              SYMBOL TECHNOLOGIES, INC. AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED BALANCE SHEETS
           (All amounts in millions, except stock par value)
                                                Sept. 30,    Dec. 31,
                                                   2002        2001
                                               ----------  -----------
       ASSETS                                              (Unaudited)
       -------
CURRENT ASSETS:
     Cash, including temporary investments     $     69.6  $     81.0
     Accounts receivable, less allowance for
       doubtful accounts of $30.4 and $31.3,
       respectively                                 283.6       307.6
     Inventories                                    316.9       310.9
     Deferred income taxes                          183.6       183.0
     Prepaid and refundable income taxes             26.7        22.5
     Other current assets                            75.1        95.2
                                               ----------  -----------
                  TOTAL CURRENT ASSETS              955.5     1,000.2
PROPERTY, PLANT AND EQUIPMENT, net                  226.4       241.2
DEFERRED INCOME TAXES                                18.5        24.2
INVESTMENT IN MARKETABLE SECURITIES                  43.9        76.0
INTANGIBLE AND OTHER ASSETS, net                    522.7       551.1
                                               ----------  -----------
                                                 $1,767.0    $1,892.7
                                               ==========  ===========
     LIABILITIES  AND  STOCKHOLDERS'  EQUITY
     ---------------------------------------
CURRENT LIABILITIES:
     Accounts payable and accrued expenses        $ 288.5   $   279.7
     Current portion of long-term debt                6.7         6.5
     Deferred revenue                                32.2        34.6
     Accrued restructuring expenses                   7.9        18.9
                                               ----------  -----------
                  TOTAL CURRENT LIABILITIES         335.3       339.7
CONVERTIBLE SUBORDINATED NOTES AND DEBENTURES          --        85.1
LONG-TERM DEBT, less current maturities             197.5       225.2
OTHER LIABILITIES AND DEFERRED REVENUE               62.8        61.9
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
     Preferred stock, par value $1.00;
       authorized 10.0 shares, none issued
       or outstanding                                  --          --
     Series A Junior Participating preferred
       stock, par value $1.00, authorized
       .5 shares, none issued or
       outstanding                                     --          --
     Common stock, par value $0.01;
       authorized 600.0 shares; issued
       256.3 shares and 253.3 shares,
       respectively                                   2.6         2.5
     Retained earnings                              337.9       350.4
     Treasury stock at cost, 25.7
       shares and 24.5 shares,
       respectively                                (234.8)     (218.0)
     Other stockholders' equity                   1,065.7     1,045.9
                                               ----------  -----------
                                                  1,171.4     1,180.8
                                               ----------  -----------
                                                 $1,767.0    $1,892.7
                                               ==========  ===========
              SYMBOL TECHNOLOGIES, INC. AND SUBSIDIARIES
            CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
             FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2002
           (All amounts in millions, except per share data)
                              (Unaudited)
                      Three Months Ended        Three Months Ended
                      September 30, 2002        September 30, 2001
                  ----------------------------------------------------
                            Non-    Results           Non-    Results
                         Recurring  Before         Recurring   Before
                          Charges    Non-           Charges     Non-
                   Actual         Recurring  Actual          Recurring
                  Results           Charges Results            Charges
                  ----------------------------------------------------
NET REVENUE        $339.5     $--    $339.5  $331.2     $--    $331.2
COST OF REVENUE     206.7      --     206.7   253.6    59.7     193.9
AMORTIZATION OF
 SOFTWARE
  DEV. COSTS          5.0      --       5.0     4.6      --       4.6
                  ----------------------------------------------------
GROSS PROFIT        127.8      --     127.8    73.0   (59.7)    132.7
                  ----------------------------------------------------
OPERATING
 EXPENSES:
   Engineering       34.3      --      34.3    28.1      --      28.1
   Selling,
    general &
    administrative   71.3     3.7      67.6    76.9      --      76.9
   Goodwill
    amortization       --      --        --     4.1      --       4.1
                  ----------------------------------------------------
TOTAL OPERATING
 EXPENSES           105.6     3.7     101.9   109.1      --     109.1
                  ----------------------------------------------------
EARNINGS / (LOSS)
 FROM OPERATIONS     22.2    (3.7)     25.9   (36.1)  (59.7)     23.6
INTEREST EXPENSE,
 NET                 (3.0)     --      (3.0)   (5.0)     --      (5.0)
                  ----------------------------------------------------
EARNINGS / (LOSS)
 BEFORE INCOME
 TAXES               19.2    (3.7)     22.9   (41.1)  (59.7)     18.6
PROVISION FOR /
 (BENEFIT FROM)
 INCOME TAXES         6.1    (1.2)      7.3    (5.4)  (11.4)      6.0
                  ----------------------------------------------------
NET EARNINGS /
 (LOSS)             $13.1   ($2.5)    $15.6  ($35.7) ($48.3)    $12.6
                  ====================================================
     EARNINGS /
      (LOSS) PER
      SHARE:
     Basic          $0.06  ($0.01)    $0.07  ($0.16) ($0.21)    $0.06
                  ====================================================
     Diluted        $0.06  ($0.01)    $0.07  ($0.16) ($0.21)    $0.06
                  ====================================================
WEIGHTED AVERAGE
 NUMBER OF
 COMMON SHARES
  OUTSTANDING:
     Basic          230.4   230.4     230.4   228.4   228.4     228.4
                  ====================================================
     Diluted        233.4   233.4     233.4   228.4   228.4     228.4
                  ====================================================
              SYMBOL TECHNOLOGIES, INC. AND SUBSIDIARIES
            CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
             FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2002
           (All amounts in millions, except per share data)
                              (Unaudited)
                       Nine Months Ended         Nine Months Ended
                      September 30, 2002        September 30, 2001
                  ----------------------------------------------------
                            Non-    Results           Non-    Results
                         Recurring  Before         Recurring   Before
                          Charges    Non-           Charges     Non-
                   Actual         Recurring  Actual          Recurring
                  Results           Charges Results            Charges
                  ----------------------------------------------------
NET REVENUE         $956.7     $--  $956.7 $1,121.6      $-- $1,121.6
COST OF REVENUE      592.4      --   592.4    846.7    169.7    677.0
AMORTIZATION OF
 SOFTWARE
  DEV. COSTS          14.1      --    14.1     13.4       --     13.4
                  ----------------------------------------------------
GROSS PROFIT         350.2      --   350.2    261.5   (169.7)   431.2
                  ----------------------------------------------------
OPERATING
 EXPENSES:
   Engineering        90.5      --    90.5     87.4       --     87.4
   Selling,
    general &
    administrative   204.8     3.7   201.1    247.9       --    247.9
   Goodwill
    amortization        --      --      --     12.1       --     12.1
   Non-recurring
    compensation
    charge             8.6     8.6      --       --       --       --
   Non-recurring
    impairment
    charge            47.2    47.2      --       --       --       --
                  ----------------------------------------------------
TOTAL OPERATING
 EXPENSES            351.1    59.5   291.6    347.4       --    347.4
                  ----------------------------------------------------
(LOSS) / EARNINGS
 FROM OPERATIONS      (0.9)  (59.5)   58.6    (85.9)  (169.7)    83.8
INTEREST EXPENSE,
 NET                 (10.7)     --   (10.7)   (13.0)      --    (13.0)
                  ----------------------------------------------------
(LOSS) / EARNINGS
 BEFORE
 INCOME TAXES        (11.6)  (59.5)   47.9    (98.9)  (169.7)    70.8
(BENEFIT FROM) /
 PROVISION FOR
 INCOME TAXES         (3.7)  (19.1)   15.4    (31.6)   (54.3)    22.7
                  ----------------------------------------------------
NET (LOSS) /
 EARNINGS            ($7.9) ($40.4)  $32.5   ($67.3) ($115.4)  $ 48.1
                  ====================================================
     (LOSS) /
      EARNINGS PER
      SHARE:
     Basic          ($0.03) ($0.18)  $0.14   ($0.30)  ($0.51)   $0.21
                  ====================================================
     Diluted        ($0.03) ($0.18)  $0.14   ($0.30)  ($0.51)   $0.21
                  ====================================================
WEIGHTED AVERAGE
 NUMBER OF
 COMMON SHARES
 OUTSTANDING:
     Basic           229.7   229.7   229.7    227.0    227.0    227.0
                  ====================================================
     Diluted         229.7   229.7   229.7    227.0    227.0    227.0
                  ====================================================
Please note additional Q3 2002 schedules follow:
Unaudited Supplemental Detail
Symbol Technologies, Inc.
2002 Sequential Quarterly Results - Unaudited Financial Information
($ in Millions except EPS)
    *   P&L data excludes One-time charges
        Read schedule left to right
                    Q1 02    Higher/     Q2 02    Higher/      Q3 02
                    Actual   (Lower)     Actual   (Lower)      Actual
Profit & Loss:
-------------
Revenue             $301.3   $ 14.5      $315.8   $ 23.7       $339.5
Gross Margin %        35.0%     2.0 pts.   37.0%     0.7  pts.   37.7%
Operating Margin %     4.8%     0.7 pts.    5.5%     2.1  pts.    7.6%
EPS (Excludes all
 charges)           $ 0.03   $ 0.01      $ 0.04   $ 0.03       $ 0.07
Balance Sheet
-------------
DSO                     84       (3)         81       (5)          76
Inventory Turns        2.6        -         2.6      0.1          2.7
Working Capital % to
 rev.                 52.9%    (2.3)pts.  50.6%     (4.9)pts.    45.7%
Debt/Equity           24.5%    (3.5)pts.  21.0%     (3.6)pts.    17.4%
Return on Assets       1.6%     0.5 pts.    2.1%     1.4 pts.     3.5%
Return on Equity       2.4%     0.8 pts.    3.2%     2.1 pts.     5.3%
Cash Flow
---------
CFFO                $ 43.3   $  3.5      $ 46.8   $  4.6       $ 51.4
NFF (CFFO +
 Investing
 activities)        $ 24.9   $  3.2      $ 28.1   $ (0.9)      $ 27.2
Capital Spending    $  9.4   $ (0.6)     $  8.8   $ (1.5)      $  7.3
Unaudited Supplemental Detail
Symbol Technologies, Inc.
Analysis of Revenue
($ in Millions)
            Read schedule left to right
                                 Higher/                Higher/
                                 (Lower)                (Lower)
   -------------------------------------------------------------------
(1)Product              Q1 02    $     %     Q2 02    $     %    Q3 02
   -------------------------------------------------------------------
   Scanners            $ 71.5 $ 4.6   6.4 % $ 76.1 $(3.4) (4.5)%$ 72.7
   Mobile & Wireless    157.1  13.5   8.6 %  170.6  23.3  13.6 % 193.9
                       -----------------------------------------------
      Total Products    228.6  18.1   7.9 %  246.7  19.9   8.1 % 266.6
   Services              72.7  (3.6) (5.0)%   69.1   3.8   5.5 %  72.9
                       -----------------------------------------------
      Total Revenue    $301.3 $14.5   4.8 % $315.8 $23.7   7.5 %$339.5
                       ===============================================
    Note: Scanners does not include the scanning component of Mobile &
          Wireless Computers
                                 Higher/                Higher/
                                 (Lower)                (Lower)
   -------------------------------------------------------------------
(1)Geographic           Q1 02    $     %     Q2 02     $     % Q3 02
   -------------------------------------------------------------------
   TASS                $209.6 $ 6.9   3.3 % $216.5 $ 11.0  5.1 %$227.5
   EMEA                  76.4   4.0   5.2 %   80.4    7.1  8.8 %  87.5
   APAC                  15.3   3.6  23.5 %   18.9    5.6 29.5 %  24.5
                       -----------------------------------------------
      Total Revenue    $301.3 $14.5   4.8 % $315.8 $ 23.7  7.5 %$339.5
                       ===============================================
    (1)Unaudited Financial Information
                                 Higher/                Higher/
                                 (Lower)                (Lower)
   -------------------------------------------------------------------
(2)Industry             Q1 02    $     %     Q2 02     $    %   Q3 02
   -------------------------------------------------------------------
   Retailers           $ 98.9 $ 5.2   5.3 % $104.1 $ 22.0 21.2 %$126.1
   Transportation &
    Logistics            38.9   6.9  17.7 %   45.8   (4.2)(9.2)%  41.6
   Manufacturers         37.6   1.6   4.3 %   39.2   29.2 74.4 %  68.4
   Other                 53.2   4.4   8.3 %   57.6  (27.1)(47.1)% 30.5
                       -----------------------------------------------
     Total Product     $228.6 $18.1   7.9 % $246.7 $ 19.9  8.1 %$266.6
                       ===============================================
    Note: Industry is based on the Dun & Bradstreet classification of
          a customer's primary business
                                 Higher/                Higher/
                                 (Lower)                (Lower)
   -------------------------------------------------------------------
(2)Application          Q1 02    $    % Q2 02      $      % Q3 02
(2)Application          Q1 02    $    % Q2 02      $      % Q3 02
   -------------------------------------------------------------------
   Retail Store
    Management         $ 73.8 $ 1.3   1.8 %$ 75.1  $15.3  20.4 % $90.4
   Warehouse/DC/Yard
    Mgt                  70.0  15.6  22.3 %  85.6    7.5   8.8 %  93.1
   Truck/Private
    Fleet/Parcel         10.2  11.6 113.7 %  21.8   (3.0)(13.9)%  18.8
   ID/Tracking/Security  12.0  10.8  90.0 %  22.8   (0.8) (3.6)%  22.0
   Other                 62.6 (21.2)(33.9)%  41.4    0.9   2.2 %  42.3
                       -----------------------------------------------
     Total Product     $228.6 $18.1   7.9 % $246.7 $19.9   8.1 %$266.6
                       ===============================================
    Note: Application is based on the software & use of a product; one
          industry group may have multiple applications.
    (2) Not for Financial reporting. Analytical information subject to
        periodic adjustment
Unaudited Supplemental Detail
Symbol Technologies, Inc.
Statement of Operations
(Dollars in millions)
                                           2001 - As Reported
                                   ----------------------------------
                                     Q1    Q2     Q3     Q4   Total
                                   ----------------------------------
 Revenue                           450.2  340.2  331.2 331.1 1,452.7
  Cost  of
   revenue                         275.6  317.6  253.6 194.7 1,041.5
  Amortization
   of Software                       4.2    4.5    4.6   3.8    17.1
                                   ----------------------------------
 Gross  profit                     170.4   18.1   73.0 132.6   394.1
 Operating
  expenses
  Engineering                       31.0   28.3   28.1  29.9   117.3
  Selling , G&A                     90.3   80.7   76.9  73.7   321.6
  Restructuring and Impairment       0.0    0.0    0.0   0.0     0.0
  Non-recurring
   Compensation                      0.0    0.0    0.0   0.0     0.0
  Goodwill                           4.0    4.0    4.1   4.3    16.4
                                   ----------------------------------
 Total
  operating
  expenses                         125.3  113.0  109.1 107.9   455.3
                                   ----------------------------------
 Operating
  income /
  (loss)                            45.1  (94.9) (36.1) 24.7   (61.2)
 Interest
  expense, net                      (4.0)  (4.0)  (5.0) (5.0)  (18.0)
                                   ----------------------------------
 Pre-tax
  earnings /
  (loss)                            41.1  (98.9) (41.1) 19.7   (79.2)
 Provision for / (benefit from)
  income taxes                      13.2  (39.3)  (5.4)  6.2   (25.3)
                                   ----------------------------------
 Net earnings /
  (loss)                            27.9  (59.6) (35.7) 13.5   (53.9)
 Weighted  avg  shares
  outstanding                      239.4  224.6  228.4 235.6   227.4
 Earnings /
  (loss) per
  share                            $0.12 ($0.27)($0.16)$0.06  ($0.24)
                                   ----------------------------------
 PERCENTAGE OF
  REVENUE
 --------------
 Revenue                           100.0% 100.0% 100.0%100.0%  100.0%
  Cost  of
   revenue                          61.2%  93.4%  76.6% 58.8%   71.7%
  Amortization
   of Software                       0.9%   1.3%   1.4%  1.1%    1.2%
                                   ----------------------------------
 Gross  profit                      37.8%   5.3%  22.0% 40.0%   27.1%
 Operating
  expenses
  Engineering                        6.9%   8.3%   8.5%  9.0%    8.1%
  Selling , G&A                     20.1%  23.7%  23.2% 22.3%   22.1%
  Restructuring and Impairment       0.0%   0.0%   0.0%  0.0%    0.0%
  Non-recurring
   Compensation                      0.0%   0.0%   0.0%  0.0%    0.0%
  Goodwill                           0.9%   1.2%   1.2%  1.3%    1.1%
                                   ----------------------------------
 Total
  operating
  expenses                          27.8%  33.2%  32.9% 32.6%   31.3%
                                   ----------------------------------
 Operating
  income /
  (loss)                            10.0% -27.9% -10.9%  7.5%   -4.2%
 Interest
  expense, net                      -0.9%  -1.2%  -1.5% -1.5%   -1.2%
                                   ----------------------------------
 Pre-tax
  earnings /
  (loss)                             9.1% -29.1% -12.4%  5.9%   -5.5%
 Provision for / (benefit from)
  income taxes                       2.9% -11.6%  -1.6%  1.9%   -1.7%
                                   ----------------------------------
 Net earnings /
  (loss)                             6.2% -17.5% -10.8%  4.1%   -3.7%
                                   ----------------------------------
                                         Q2 2001   Q3 2001   YTD 2001
                                        ------------------- ----------
                                         Excludes  Excludes  Excludes
                                           Non-      Non-      Non-
                                         Recurring Recurring Recurring
                                          charges   charges   charges
                                        ------------------------------
 Revenue                                    340.2    331.2   1,452.7
  Cost  of
   revenue                                  207.6    193.9     871.8
  Amortization
   of Software                                4.5      4.6      17.1
                                        ------------------- ---------
 Gross  profit                              128.1    132.7     563.8
 Operating
  expenses
  Engineering                                28.3     28.1     117.3
  Selling , G&A                              80.7     76.9     321.6
  Restructuring and Impairment                0.0      0.0       0.0
  Non-recurring
   Compensation                               0.0      0.0       0.0
  Goodwill                                    4.0      4.1      16.4
                                        ------------------- ---------
 Total
  operating
  expenses                                  113.0    109.1     455.3
                                        ------------------- ---------
 Operating
  income /
  (loss)                                     15.1     23.6     108.5
 Interest
  expense, net                               (4.0)    (5.0)    (18.0)
                                        ------------------- ---------
 Pre-tax
  earnings /
  (loss)                                     11.1     18.6      90.5
 Provision for / (benefit from) income
  taxes                                       3.6      6.0      29.0
                                        ------------------- ---------
 Net earnings /
  (loss)                                      7.5     12.6      61.5
 Weighted  avg  shares  outstanding         224.6    228.4     227.4
 Earnings /
  (loss) per
  share                                     $0.03    $0.06     $0.27
                                        ------------------- ---------
 PERCENTAGE OF
  REVENUE
 --------------
 Revenue                                    100.0%   100.0%    100.0%
  Cost  of
   revenue                                   61.0%    58.5%     60.0%
  Amortization
   of Software                                1.3%     1.4%      1.2%
                                        ------------------- ---------
 Gross  profit                               37.7%    40.1%     38.8%
 Operating
  expenses
  Engineering                                 8.3%     8.5%      8.1%
  Selling , G&A                              23.7%    23.2%     22.1%
  Restructuring and Impairment                0.0%     0.0%      0.0%
  Non-recurring
   Compensation                               0.0%     0.0%      0.0%
  Goodwill                                    1.2%     1.2%      1.1%
                                        ------------------- ---------
 Total
  operating
  expenses                                   33.2%    32.9%     31.3%
                                        ------------------- ---------
 Operating
  income /
  (loss)                                      4.4%     7.1%      7.5%
 Interest
  expense, net                               -1.2%    -1.5%     -1.2%
                                        ------------------- ---------
 Pre-tax
  earnings /
  (loss)                                      3.3%     5.6%      6.2%
 Provision for / (benefit from) income
  taxes                                       1.1%     1.8%      2.0%
                                        ------------------- ---------
 Net earnings /
  (loss)                                      2.2%     3.8%      4.2%
                                        ------------------- ---------
                                               2002 -  As Reported
                                           ---------------------------
                                             Q1    Q2     Q3   Total
                                           --------------------------
 Revenue                                   301.3  315.9 339.5  956.7
  Cost  of
   revenue                                 191.8  193.9 206.7  592.4
  Amortization
   of Software                               4.2    4.9   5.0   14.1
                                           --------------------------
 Gross  profit                             105.3  117.1 127.8  350.2
 Operating
  expenses
  Engineering                               26.7   29.5  34.3   90.5
  Selling , G&A                             63.3   70.2  71.3  204.8
  Restructuring and Impairment               0.0   47.2   0.0   47.2
  Non-recurring
   Compensation                              8.6    0.0   0.0    8.6
  Goodwill                                   0.0    0.0   0.0    0.0
                                           --------------------------
 Total
  operating
  expenses                                  98.6  146.9 105.6  351.1
                                           --------------------------
 Operating
  income /
  (loss)                                     6.7  (29.8) 22.2   (0.9)
 Interest
  expense, net                              (4.1)  (3.6) (3.0) (10.7)
                                           --------------------------
 Pre-tax
  earnings /
  (loss)                                     2.6  (33.4) 19.2  (11.6)
 Provision for / (benefit from) income
  taxes                                      0.8  (10.6)  6.1   (3.7)
                                           --------------------------
 Net earnings /
  (loss)                                     1.8  (22.8) 13.1   (7.9)
 Weighted  avg  shares  outstanding        234.6  229.4 233.4  229.7
 Earnings /
  (loss) per
  share                                    $0.01 ($0.10)$0.06 ($0.03)
                                           --------------------------
 PERCENTAGE OF
  REVENUE
 --------------
 Revenue                                   100.0% 100.0%100.0% 100.0%
  Cost  of
   revenue                                  63.7%  61.4% 60.9%  61.9%
  Amortization
   of Software                               1.4%   1.6%  1.5%   1.5%
                                           --------------------------
 Gross  profit                              35.0%  37.1% 37.6%  36.6%
 Operating
  expenses
  Engineering                                8.9%   9.3% 10.1%   9.5%
  Selling , G&A                             21.0%  22.2% 21.0%  21.4%
  Restructuring and Impairment               0.0%  14.9%  0.0%   4.9%
  Non-recurring
   Compensation                              2.9%   0.0%  0.0%   0.9%
  Goodwill                                   0.0%   0.0%  0.0%   0.0%
                                           --------------------------
 Total
  operating
  expenses                                  32.7%  46.5% 31.1%  36.7%
                                           --------------------------
 Operating
  income /
  (loss)                                     2.2%  -9.4%  6.5%  -0.1%
 Interest
  expense, net                              -1.4%  -1.1% -0.9%  -1.1%
                                           --------------------------
 Pre-tax
  earnings /
  (loss)                                     0.9% -10.6%  5.7%  -1.2%
 Provision for / (benefit from) income
  taxes                                      0.3%  -3.4%  1.8%  -0.4%
                                           --------------------------
 Net earnings /
  (loss)                                     0.6%  -7.2%  3.9%  -0.8%
                                           --------------------------
                               Q1 2002   Q2 2002   Q3 2002   YTD 2002
                              ----------------------------- ----------
                              Excludes  Excludes  Excludes  Excludes
                                 Non-      Non-      Non-      Non-
                               Recurring Recurring Recurring Recurring
                                charges   charges   charges   charges
                              ----------------------------------------
 Revenue                          301.3     315.9    339.5      956.7
  Cost  of
   revenue                        191.8     193.9    206.7      592.4
  Amortization
   of Software                      4.2       4.9      5.0       14.1
                              ----------------------------- ----------
 Gross  profit                    105.3     117.1    127.8      350.2
 Operating
  expenses
  Engineering                      26.7      29.5     34.3       90.5
  Selling , G&A                    63.3      70.2     67.6      201.1
  Restructuring and Impairment      0.0       0.0      0.0        0.0
  Non-recurring
   Compensation                     0.0       0.0      0.0        0.0
  Goodwill                          0.0       0.0      0.0        0.0
                              ----------------------------- ----------
 Total
  operating
  expenses                         90.0      99.7    101.9      291.6
                              ----------------------------- ----------
 Operating
  income /
  (loss)                           15.3      17.4     25.9       58.6
 Interest
  expense, net                     (4.1)     (3.6)    (3.0)     (10.7)
                              ----------------------------- ----------
 Pre-tax
  earnings /
  (loss)                           11.2      13.8     22.9       47.9
 Provision for / (benefit
  from) income taxes                3.6       4.5      7.3       15.4
                              ----------------------------- ----------
 Net earnings /
  (loss)                            7.6       9.3     15.6       32.5
 Weighted  avg  shares
  outstanding                     234.6     229.4    233.4      229.7
 Earnings /
  (loss) per
  share                           $0.03     $0.04    $0.07      $0.14
                              ----------------------------- ----------
 PERCENTAGE OF
  REVENUE
 --------------
 Revenue                          100.0%    100.0%   100.0%     100.0%
  Cost  of
  Amortization
   of Software                      1.4%      1.6%     1.5%       1.5%
                              ----------------------------- ----------
 Gross  profit                     35.0%     37.1%    37.6%      36.6%
 Operating
  expenses
  Engineering                       8.9%      9.3%    10.1%       9.5%
  Selling , G&A                    21.0%     22.2%    19.9%      21.0%
  Restructuring and Impairment      0.0%      0.0%     0.0%       0.0%
  Non-recurring
   Compensation                     0.0%      0.0%     0.0%       0.0%
  Goodwill                          0.0%      0.0%     0.0%       0.0%
                              ----------------------------- ----------
 Total
  operating
  expenses                         29.9%     31.6%    30.0%      30.5%
                              ----------------------------- ----------
 Operating
  income /
  (loss)                            5.1%      5.5%     7.6%       6.1%
 Interest
  expense, net                     -1.4%     -1.1%    -0.9%      -1.1%
                              ----------------------------- ----------
 Pre-tax
  earnings /
  (loss)                            3.7%      4.4%     6.7%       5.0%
 Provision for / (benefit
  from) income taxes                1.2%      1.4%     2.2%       1.6%
                              ----------------------------- ----------
 Net earnings /
  (loss)                            2.5%      2.9%     4.6%       3.4%
                              ----------------------------- ----------
Unaudited Supplemental Detail
Symbol Technologies, Inc.
Balance Sheet
(Dollars in millions)
                                                   2001
                                  -------- -------- -------- --------
                                     Q1       Q2       Q3       Q4
                                  -------- -------- -------- --------
Assets
Cash and temporary
 investments                         70.6     71.3    109.8     81.0
Accounts
 receivable                         461.5    445.1    325.6    307.6
Inventories                         318.2    321.5    311.6    310.9
Deferred  income
 taxes                              206.5    205.2    204.5    183.0
Prepaid and
 refundable income
 taxes                               11.2     67.0     75.6     22.5
Other current
 assets                              95.6     88.6     98.2     95.2
                                  -------- -------- -------- --------
Total current
 assets                           1,163.6  1,198.7  1,125.3  1,000.2
Property, plant
 and equipment -
 net                                242.2    261.5    232.1    241.2
Deferred  income
 taxes                                0.0      0.0      0.0     24.2
Investment in
 marketable
 securities                          66.0     78.0     52.6     76.0
Intangible and
 other assets -
 net                                514.2    530.7    528.3    551.1
                                  -------- -------- -------- --------
Total assets                      1,986.0  2,068.9  1,938.3  1,892.7
                                  ======== ======== ======== ========
Liabilities &
 Stockholders'
 Equity
Accounts payable
 and accrued
 expenses                           312.4    348.2    297.9    279.7
Current portion of
 long-term debt                      12.6     11.1      6.5      6.5
Deferred revenue                     31.8     36.8     38.6     34.6
Accrued
 restructuring
 expenses                            43.5     25.3     27.2     18.9
                                  -------- -------- -------- --------
Total current
 liabilities                        400.3    421.4    370.2    339.7
Convertible
 subordinated
 notes and
 debentures                         106.9    106.9     87.0     85.1
Long-term debt,
 less current
 maturities                         107.2    218.0    195.4    225.2
Other liabilities
 and deferred
 revenue                            127.4    126.2    124.1     61.9
Stockholders'
 Equity
Common stock                          2.5      2.5      2.5      2.5
Other
 stockholders'
 equity                           1,241.7  1,193.9  1,159.1  1,178.3
                                  -------- -------- -------- --------
Total
 stockholders'
 equity                           1,244.2  1,196.4  1,161.6  1,180.8
                                  -------- -------- -------- --------
Total liabilities
 and equity                       1,986.0  2,068.9  1,938.3  1,892.7
                                  ======== ======== ======== ========
Financial ratios:
      Days sales outstanding           93      119       89       85
      Inventory turnover              3.5      4.0      3.3      2.6
      Inventory turnover
        (excluding non-
         recurring charges)                    2.0      2.5
      Return on assets                5.5%   -11.7%    -7.3%     2.8%
        Return on assets (excluding
         non-recurring charges)                1.4%     2.4%
      Current ratio                   2.9      2.8      3.0      2.9
                                  -------- -------- -------- --------
  Current ratio
   (excluding non-
   recurring
   charges)
                                                      2002
                                            -------- -------- --------
                                               Q1       Q2       Q3
                                            -------- -------- --------
Assets
Cash and temporary
 investments                                   72.1     69.3     69.6
Accounts
 receivable                                   279.5    282.7    283.6
Inventories                                   306.8    302.6    316.9
Deferred  income
 taxes                                        183.8    180.9    183.6
Prepaid and
 refundable income
 taxes                                         17.1     31.4     26.7
Other current
 assets                                        90.4     81.2     75.1
                                            -------- -------- --------
Total current
 assets                                       949.7    948.1    955.5
Property, plant
 and equipment -
 net                                          239.2    232.4    226.4
Deferred  income
 taxes                                         18.5     18.5     18.5
Investment in
 marketable
 securities                                    71.2     58.5     43.9
Intangible and
 other assets -
 net                                          553.0    511.1    522.7
                                            -------- -------- --------
Total assets                                1,831.6  1,768.6  1,767.0
                                            ======== ======== ========
Liabilities &
 Stockholders'
 Equity
Accounts payable
 and accrued
 expenses                                     259.5    261.9    288.5
Current portion of
 long-term debt                                 6.6      6.4      6.7
Deferred revenue                               31.1     29.7     32.2
Accrued
 restructuring
 expenses                                      15.1     11.3      7.9
                                            -------- -------- --------
Total current
 liabilities                                  312.3    309.3    335.3
Convertible
 subordinated
 notes and
 debentures                                    45.1      0.0      0.0
Long-term debt,
 less current
 maturities                                   237.0    237.5    197.5
Other liabilities
 and deferred
 revenue                                       59.7     62.6     62.8
Stockholders'
 Equity
Common stock                                    2.6      2.6      2.6
Other
 stockholders'
 equity                                     1,174.9  1,156.6  1,168.8
                                            -------- -------- --------
Total
 stockholders'
 equity                                     1,177.5  1,159.2  1,171.4
                                            -------- -------- --------
Total liabilities
 and equity                                 1,831.6  1,768.6  1,767.0
                                            ======== ======== ========
Financial ratios:
      Days sales outstanding                     84       81       76
      Inventory turnover                        2.6      2.6      2.7
      Inventory turnover
         (excluding non-
         recurring charges)
      Return on assets                          0.4%    -5.1%     3.0%
        Return on assets (excluding non-
         recurring charges)                     1.6%     2.1%     3.5%
      Current ratio                             3.0      3.1      2.8
  Current ratio
   (excluding non-recurring charges)            3.1      3.0
Unaudited Supplemental Detail
Symbol Technologies, Inc.
Cash Flow Trend
(Dollars in millions)
                                                    2001
                                      --------------------------------
 Modified Cash Flow                     Q1    Q2     Q3    Q4   Total
                                      --------------------------------
 Cash Flow from Operating
  Activities
 Net Income / (Loss)                   27.9  (59.6)(35.7) 13.5  (53.9)
  Depreciation and Amort. of
   PP&E                                13.2   13.7  12.7  13.9   53.5
  Other Amortization                    8.9   10.7  11.0  11.0   41.6
  Provision for Losses on A/R           0.8    0.8   1.2   0.8    3.6
  Write off of Probable Losses          0.0   16.0   0.0   0.0   16.0
  Provision for Inventory Write
   Down                                 0.0  110.0   0.0   0.0  110.0
  Non Cash Restructuring &
   Impairment                           0.0    0.0  51.7   0.0   51.7
  Non Cash Compensation                 0.0    0.0   0.0   0.0    0.0
  Deferred Income Taxes                 0.0    0.0   0.0  (7.3)  (7.3)
  Tax Benefits from Stock
   Options                             25.5   12.6   4.9   0.9   43.9
 Changes in Assets and
  Liabilities
  Accounts Receivable                 (11.5)   0.1 119.0  16.7  124.3
  Inventories                         (33.4)(126.5) 10.1  (1.1)(150.9)
  Other Assets                        (15.6)   7.9  (6.2)  3.9  (10.0)
  Accounts Payable and Accrued
   Expenses                           (13.4)  35.4 (50.1)(18.4) (46.5)
  Accrued Restructuring
   Expenses                           (29.0) (18.1) (9.6) (6.2) (62.9)
  Other Liabilities and
   Deferred Revenue                   (14.3) (51.9) (9.0)(10.5) (85.7)
                                      --------------------------------
 Cash Flow from Operations            (40.9) (48.9)100.0  17.2   27.4
                                      --------------------------------
 Proceeds from sale of
  property, plant and equip.            0.0    0.0   0.0   0.0    0.0
 Capital Expenditures                 (21.3) (32.9)(20.2)(24.0) (98.4)
 Investment in Intangibles &
  Other                                (5.9) (13.9)(11.8)(32.8) (64.4)
                                      --------------------------------
 Net Funds Flow                       (68.1) (95.7) 68.0 (39.6)(135.4)
 Cash Flow from Financing
  Activities                          (10.8)  98.3 (32.6) 12.0   66.9
 Proceeds from Termination of
  Collar Arrangement                   88.0    0.0   0.0   0.0   88.0
 Other                                 (1.9)  (1.9)  3.1  (1.2)  (1.9)
                                      --------------------------------
 Increase / (Decrease) in Cash          7.2    0.7  38.5 (28.8)  17.6
                                      --------------------------------
 Beginning Cash Balance                63.4   70.6  71.3 109.8   63.4
                                      --------------------------------
 Ending Cash Balance                   70.6   71.3 109.8  81.0   81.0
                                      --------------------------------
                                                        2002
                                              ------------------------
 Modified Cash Flow                             Q1    Q2    Q3  Total
                                              ------------------------
 Cash Flow from Operating
  Activities
 Net Income / (Loss)                            1.8 (22.8) 13.1  (7.9)
  Depreciation and Amort. of
   PP&E                                        10.2  11.9  13.1  35.2
  Other Amortization                            7.2   8.7   8.4  24.3
  Provision for Losses on A/R                   1.6   1.1   1.5   4.2
  Write off of Probable Losses                  0.0   0.0   0.0   0.0
  Provision for Inventory Write
   Down                                         0.0   0.0   0.0   0.0
  Non Cash Restructuring &
   Impairment                                   0.0  47.2   0.0  47.2
  Non Cash Compensation                         0.0   0.0   3.0   3.0
  Deferred Income Taxes                         0.0   0.0   0.0   0.0
  Tax Benefits from Stock
   Options                                      6.8   0.2   0.9   7.9
 Changes in Assets and
  Liabilities
  Accounts Receivable                          26.0  (1.6) (5.0) 19.4
  Inventories                                   4.0   5.3 (15.3) (6.0)
  Other Assets                                  9.0  10.3   6.8  26.1
  Accounts Payable and Accrued
   Expenses                                   (19.1)  3.2  21.9   6.0
  Accrued Restructuring
   Expenses                                    (3.8) (3.8) (3.3)(10.9)
  Other Liabilities and
   Deferred Revenue                            (0.4)(12.9)  6.3  (7.0)
                                              ------------------------
 Cash Flow from Operations                     43.3  46.8  51.4 141.5
                                              ------------------------
 Proceeds from sale of
  property, plant and equip.                    0.0   4.2   0.0   4.2
 Capital Expenditures                          (9.4) (8.8) (7.3)(25.5)
 Investment in Intangibles &
  Other                                        (9.0)(14.1)(16.9)(40.0)
                                              ------------------------
 Net Funds Flow                                24.9  28.1  27.2  80.2
 Cash Flow from Financing
  Activities                                  (33.4)(34.2)(27.8)(95.4)
 Proceeds from Termination of
  Collar Arrangement                            0.0   0.0   0.0   0.0
 Other                                         (0.4)  3.3   0.9   3.8
                                              ------------------------
 Increase / (Decrease) in Cash                 (8.9) (2.8)  0.3 (11.4)
                                              ------------------------
 Beginning Cash Balance                        81.0  72.1  69.3  81.0
                                              ------------------------
 Ending Cash Balance                           72.1  69.3  69.6  69.6
                                              ------------------------
*T
    --30--KB/ny
    CONTACT: Symbol Technologies, Inc.
             For financial information:
             Kenneth Jaeggi, 
631/738-3909
             For press information:
             Nancy Tully, 
631/738-5050
    KEYWORD: NEW YORK
COMPUTERS/ELECTRONICS EARNINGS
    SOURCE: Symbol Technologies, Inc.


era un po' troppo dettagliato?
eheheh :-)