Published: February 03, 2011

Intermec Reports Fourth Quarter and Full Year 2010 Results

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EVERETT, Wash. - (BUSINESS WIRE) - Intermec, Inc. (NYSE: IN) today announced financial results for its fourth quarter ended December 31, 2010.

Fourth quarter 2010 revenues were $200 million and net earnings from continuing operations were $7.9 million, or $0.13 per diluted share, compared to the $179 million and net earnings from continuing operations of $6.0 million, or $0.10 per diluted share for the fourth quarter of 2009.

"Intermec delivered solid fourth quarter results, driven by strong sales in each region and increased enterprise spending on rugged mobile computers," said Patrick J. Byrne, Intermec President and CEO. "Our new product introductions, most recently the 70 series of ultra rugged computers, reinforce Intermec's leadership in our key deployment environments. This puts Intermec in a strong position to deliver profitable growth in 2011. We believe our acquisition of Vocollect will further accelerate our growth and contribute to earnings in the first year."

The following table presents our GAAP earnings before taxes, net earnings, and diluted earnings per share as reported for the fourth quarters of 2010 and 2009 and as adjusted by excluding restructuring related charges in 2009.


	Quarter Ended December 31, 2010						Quarter Ended December 31, 2009
					Diluted						Diluted
	Earnings from		Net earnings		earnings per		Earnings from		Net earnings		earnings per
	continuing		from		share from		continuing		from		share from
($ in millions, except per share	operations before		continuing		continuing		operations before		continuing		continuing
amounts)	taxes		operations		operations		taxes		operations		operations

Earnings as reported	$	9.7	$	7.9	$	0.13	$	7.4	$	6.0	$	0.10
Restructuring charges	$	-	$	-	$	-	$	1.9	$	1.6	$	0.02

Earnings as adjusted	$	9.7	$	7.9	$	0.13	$	9.3	$	7.6	$	0.12

Full year 2010 revenues were $679 million with a net loss from continuing operations of $(5.3) million, or $(0.09) per diluted share. Full year 2010 results included restructuring charges of $2.8 million and impairment of facility charges of $3.0 million. Excluding these pre-tax restructuring and impairment of facility charges, the adjusted net loss from continuing operations for full year 2010 was $(1.5) million or $(0.03) per diluted share.

Full year 2009 revenues were $658 million with a net loss from continuing operations of $(10.9) million or $(0.17) per diluted share. Full year 2009 results included restructuring charges of $20.6 million or $0.22 per diluted share.

For the full year 2010, revenue growth was 3%. Net of US Government business, growth was 11%. On a geographic basis, North America was down 8%, but up 6% after setting aside the US Government business. Internationally EMEA grew 14%, Latin America grew 20%, and Asia Pacific grew 32%.

The following table presents our GAAP earnings (loss) before taxes, net earnings (loss), and diluted earnings (loss) per share all from continuing operations as reported for full years 2010 and 2009, and as adjusted by excluding the impact of restructuring and impairment of facility charges.


	Year Ended December 31, 2010								Year Ended December 31, 2009
															Diluted (loss)
	Earnings from		Net (loss)			Diluted (loss)			(Loss) earnings			Net (loss)			earnings per
	continuing		from			per share from			from continuing			earnings from			share from
($ in millions, except per share	operations before		continuing			continuing			operations before			continuing			continuing
amounts)	taxes		operations			operations			taxes			operations			operations

Earnings (loss) as reported	$	0.2	$	(5.3	)	$	(0.09	)	$	(19.1	)	$	(10.9	)	$	(0.17	)
Restructuring charges	$	2.8	$	1.9		$	0.03		$	20.6		$	13.5		$	0.22
Impairment of facility	$	3.0	$	1.9		$	0.03		$	-		$	-		$	-

Earnings (loss) as adjusted	$	6.0	$	(1.5	)	$	(0.03	)	$	1.5		$	2.6		$	0.05

Excluding these charges, the adjusted net (loss) from continuing operations for full year 2010 was $(1.5) million, or $(0.03) per diluted share, as described in the Non-GAAP (Adjusted) Financial Measures section of this release.

Fourth Quarter 2010 Operating Performance

Total revenue of $200 million increased 12% from the prior-year quarter, and was up 13% when adjusted for currency translation.
Geographically, compared to the prior-year quarter, revenues in North America increased 9%. In Europe, Middle East and Africa (EMEA) revenues increased 15%, or 23% on a constant currency basis. The rest of world improved by 13%, led by APAC's growth of 30% and Latin America increasing 6%.
Systems and Solutions revenue grew 20%, Printer and Media revenue increased 5% and Service revenue declined 3%, all as compared to the prior-year quarter.
Gross profit margin of 39.7% was flat compared to the prior-year quarter. Product gross margin of 39.0% increased 0.7 percentage points while service gross margin of 42.7% decreased 2.6 percentage points compared to the fourth quarter 2009.
Total operating expenses for the quarter were $69.8 million, compared to $63.8 million in the prior-year quarter. Included in the $63.8 million for the prior-year quarter were $1.9 million of restructuring expenses.
Intermec generated positive cash flow from operations during the quarter of $16.8 million; for the full year, cash flow from operations was $21.8 million. Intermec's cash, cash equivalents, and short-term investments totaled approximately $228 million, and ended the year with no debt outstanding.

Vocollect Acquisition

On January 18, 2011, Intermec announced that it had entered into a definitive agreement to acquire Vocollect, Inc., the industry-leading provider of voice-centric solutions for mobile workers worldwide. With over 1,500 customers and 300,000 users globally, Vocollect will broaden Intermec's applications and solution offerings in the warehouse and help to establish a leading position in software-oriented solutions. The acquisition will also extend Vocollect's voice solutions into markets served by Intermec and its channel partners. We expect the transaction to close in March 2011, subject to regulatory approval.

Product Introductions

Intermec introduced the 70 Series; Intermec's no compromise, next generation family of ultra-rugged mobile computers. A premium product line designed for operation in a wide range of field mobility and in-premise applications, the Intermec 70 Series comprises four distinct products, with optimized ergonomic form factors which share a common platform:

CN70 for the field service, transportation and logistics marketplace;
CN70e for direct store delivery and route accounting marketplace;
CK70 for the parcel delivery in courier, express and postal operations;
CK71 for manufacturing and warehousing operations

The 70 series of products are the most rugged while the smallest and lightest in their respective classes. They deliver industry leading imaging performance in terms of bar code read speed and near-far range, computing performance, and wireless performance. They also deliver ground breaking technologies and innovation to minimize total cost of ownership and maximize service uptime in the most demanding mobile deployment environments.

Intermec also announced the expansion of its award-winning SR61T industrial scanning portfolio, including the SR61THP high performance scanner, the SR61TXR long range scanner and the SR61T2D industrial range imager. These new solutions are ideal for customers in warehouse and manufacturing operations who need improved operator productivity and overall scanner reliability.

Outlook - First Quarter 2011

Intermec announced its financial guidance for the first quarter of 2011.

Q1'11 revenues are expected to be within a range of $160 to $170 million.
Q1'11 GAAP EPS is expected to be within a range of $(0.02) to $0.02 per diluted share.
This guidance does not include financial results or costs directly related to the Vocollect transaction. The timing of Intermec's acquisition of Vocollect is subject to regulatory approval and satisfactory completion of other conditions to closing the acquisition.

Conference Call Information

Intermec will hold its conference call on February 3, 2011 at 5:00 p.m. ET (2:00 p.m. PT). The dial-in number for participants is 1-(877)-918-2511; 1-312-470-0117 (US and International); Passcode: ("Intermec" ). The call will be broadcast on the Internet via a link from the investor's Web page at www.intermec.com/InvestorRelations.

Non-GAAP Financial Measures

This press release includes Non-GAAP financial measures for earnings (loss) from continuing operations before taxes, net earnings (loss), and earnings (loss) per diluted share. Reconciliations of each of these Non-GAAP financial measures to the most directly comparable GAAP financial measures are detailed in the Reconciliation of GAAP to Non-GAAP Net Earnings attached to this press release.

Our Non-GAAP measures should be read in conjunction with the corresponding GAAP measures. The Non-GAAP measures should be considered in addition to and not as an alternative or substitute for the measures prepared in accordance with generally accepted accounting principles.

We believe that excluding our restructuring charges (principally related to severance costs in connection with distinct organizational initiatives to reduce costs and improve operational efficiency) and expected transaction costs related to significant acquisition activity in our guidance for first quarter provides supplemental information useful to investors' and management's understanding of Intermec's core operating results, especially when comparing those results on a consistent basis to results for previous periods and anticipated results for future periods.

About Intermec, Inc.

Intermec Inc. (NYSE:IN) develops and integrates products, services and technologies that identify, track and manage supply chain assets and information. Core technologies include rugged mobile computing and data collection systems, bar code printers, label media, and RFID. Intermec's products and services are used by customers in many industries worldwide to improve the productivity, quality and responsiveness of business operations. For more information about Intermec, visit www.intermec.com or call 800-347-2636.

Statements made in this release and related statements that express Intermec's or our management's intentions, indications, beliefs, expectations, guidance, estimates, forecasts or predictions of the future constitute forward-looking statements, as defined by the Private Securities Litigation Reform Act of 1995, and relate to matters that are not historical facts. The forward-looking statements contained herein include, without limitation, statements regarding: our view of general economic and market conditions; and our revenue, expense, earnings or financial outlook for the first quarter of 2011, the full-year of 2011 or any other future period; our ability to develop, produce, market or sell our products, either directly or through third parties; reduce or control expenses, improve efficiency, realign resources, continue operational improvement and year-over-year or sequential growth; and the applicability of accounting policies used in our financial reporting. They also include statements about the consummation of the pending acquisition of Vocollect by Intermec, future financial and operating results of the combined company and benefits of the pending acquisition. These statements represent beliefs and expectations only as of the date they were made. We may elect to update forward-looking statements, but we expressly disclaim any obligation to do so, even if our beliefs and expectations change. Actual results may differ from those expressed or implied in our forward-looking statements. Such forward-looking statements involve and are subject to certain risks and uncertainties, which may cause our actual results to differ materially from those discussed in a forward-looking statement. Factors that could cause actual results to differ materially from those described herein include: (a) Intermec's ability to leverage the Vocollect products to enable it to expand its position in the warehouse market; (b) Intermec's ability to successfully integrate and market the Vocollect products; and (c) both companies' ability to obtain regulatory approvals. These risk factors also include, but are not limited to, risks and uncertainties described more fully in our reports filed or to be filed with the Securities and Exchange Commission including, but not limited to, our annual reports on Form 10-K and quarterly reports on Form 10-Q, which are available on our website at www.intermec.com.

In addition to the specific risks identified in the preceding paragraph, acquisitions involve a number of special risks, including diversion of management's attention to the assimilation of the technology and personnel of acquired businesses, costs related to the acquisition and the integration of acquired products, technologies and employees into Intermec's business and product offerings. Achieving the anticipated benefits of the pending acquisition will depend, in part, upon whether the integration of the acquired products, technology, or employees is accomplished in an efficient and effective manner, and there can be no assurance that this will occur. The difficulties of such integration may be increased by the necessity of coordinating geographically disparate organizations, the complexity of the technologies being integrated, and the necessity of integrating personnel with disparate business backgrounds and combining different corporate cultures. The inability of management to successfully integrate the business of the two companies, and any related diversion of management's attention, could have a material adverse effect on the combined company's business, operating results and financial condition.


INTERMEC, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
(Unaudited)

	Three Month Ended						Twelve Month Ended
	December			December			December			December
		31, 2010			31, 2009			31, 2010			31, 2009

Revenues:
Product	$	163,751		$	141,778		$	542,783		$	519,603
Service		36,257			37,348			136,328			138,602
Total revenues		200,008			179,126			679,111			658,205

Costs and expenses:
Cost of product revenues		99,867			87,545			338,220			331,128
Cost of service revenues		20,774			20,430			79,619			78,519
Research and development		17,494			14,213			67,271			59,566
Selling, general and administrative		52,498			47,687			191,070			187,867
Gain on intellectual property sales		(204	)		-			(3,148	)		-
Restructuring charges		-			1,947			2,780			20,577
Impairment of facility		-			-			3,008			-
Total costs and expenses		190,429			171,822			678,820			677,657

Operating profit (loss) from continuing operations		9,579			7,304			291			(19,452	)
Interest income		442			385			1,229			1,312
Interest expense		(310	)		(282	)		(1,296	)		(995	)
Earnings (loss) from continuing operations before income taxes		9,711			7,407			224			(19,135	)
Income tax expense (benefit)		1,798			1,400			5,549			(8,263	)
Earnings (loss) from continuing operations		7,913			6,007			(5,325	)		(10,872	)
Loss from discontinued operations, net of tax		-			(971	)		-			(971	)
Net earnings (loss)	$	7,913		$	5,036		$	(5,325	)	$	(11,843	)

Basic earnings (loss) per share
Continuing operations	$	0.13		$	0.10		$	(0.09	)	$	(0.17	)
Discontinued operations		-			(0.02	)		-			(0.02	)
Net earnings (loss) per share	$	0.13		$	0.08		$	(0.09	)	$	(0.19	)

Diluted earnings (loss) per share
Continuing operations	$	0.13		$	0.10		$	(0.09	)	$	(0.17	)
Discontinued operations		-			(0.02	)		-			(0.02	)
Net earnings (loss) per share	$	0.13		$	0.08		$	(0.09	)	$	(0.19	)

Shares used in computing basic earnings (loss) per share		60,340			61,788			61,364			61,644
Shares used in computing diluted earnings (loss) per share		60,648			61,954			61,364			61,644


INTERMEC, INC.
CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)

	December			December
		31, 2010			31, 2009
ASSETS

Current assets:
Cash and cash equivalents	$	221,467		$	201,884
Short-term investments		6,788			36,301
Accounts receivable, net		110,455			106,890
Inventories, net		82,657			101,537
Current deferred tax assets, net		45,725			51,480
Other current assets		17,864			16,826
Total current assets		484,956			514,918

Property, plant and equipment, net		36,320			37,383
Other acquired intangibles, net		3,031			2,587
Deferred tax assets, net		194,597			182,533
Other assets		30,361			34,404
Total assets	$	749,265		$	771,825

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable and accrued expenses	$	97,069		$	102,947
Payroll and related expenses		20,155			20,683
Deferred revenue		36,227			39,038
Total current liabilities		153,451			162,668

Long-term deferred revenue		23,752			22,010
Pension and other postretirement benefits liabilities		95,922			81,897
Other long-term liabilities		14,911			14,967

Commitments and contingencies

Shareholders' equity:
Common stock (250,000 shares authorized, 62,594 and 62,203 shares issued and 60,191 and 61,653 outstanding)
		625			622
Additional paid-in capital		694,291			703,590
Accumulated deficit		(179,570	)		(174,245	)
Accumulated other comprehensive loss		(54,117	)		(39,684	)
Total shareholders' equity		461,229			490,283
Total liabilities and shareholders' equity	$	749,265		$	771,825


INTERMEC, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)

	Twelve Month Ended
	December			December
		31, 2010			31, 2009

Cash and cash equivalents at beginning of the period	$	201,884		$	221,335

Cash flows from operating activities of continuing operations:
Net loss		(5,325	)		(11,843	)
Loss from discontinued operations		-			971
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization		14,951			15,913
Impairment loss on certain property		3,008			-
Gain on sale of property, plant and equipment		-			134
Change in pension and other postretirement plans, net		(4,312	)		(2,922	)
Deferred taxes		(594	)		(11,941	)
Stock-based compensation		8,955			7,875
Gain on intellectual property sales		(3,148	)		-
Gain on company owned life insurance		(863	)		-
Changes in operating assets and liabilities:
Accounts receivable		(3,862	)		34,228
Inventories		18,071			15,730
Other current assets		(981	)		(2,252	)
Accounts payable and accrued expenses		(4,290	)		(10,127	)
Payroll and related expenses		(157	)		(4,514	)
Deferred revenue		(1,069	)		(5,133	)
Other operating activities		1,406			(2,123	)
Net cash provided by operating activities of continuing operations		21,790			23,996

Cash flows from investing activities of continuing operations:
Additions to property, plant and equipment		(14,253	)		(11,038	)
Purchases of investments		(6,760	)		(35,790	)
Sales of investments		36,715			-
Capitalized patent legal fees		(1,491	)		(4,704	)
Sales of property, plant and equipment		2,985			1,867
Other investing activities		1,022			(100	)
Net cash provided by (used in) investing activities of continuing operations		18,218			(49,765	)

Cash flows from financing activities of continuing operations:
Stock repurchase		(20,037	)		-
Proceeds from stock options exercised		386			619
Other financing activities		1,411			1,531
Net cash (used in) provided by financing activities of continuing operations		(18,240	)		2,150

Net cash provided by (used in) continuing operations		21,768			(23,619	)
Effect of exchange rate changes on cash and cash equivalents		(2,185	)		4,168
Resulting increase (decrease) in cash and cash equivalents		19,583			(19,451	)

Cash and cash equivalents at end of the period	$	221,467		$	201,884


INTERMEC, INC.
RECONCILIATION OF GAAP TO NON-GAAP NET EARNINGS
(In thousands, except per share amounts)
(Unaudited)

	Three Months Ended																		Three Months Ended
							Adjusted									Adjusted									Adjusted
	December			Non-GAAP			December			December			Non-GAAP			December			September			Non-GAAP			September
		31, 2010		Adjustments				31, 2010			31, 2009		Adjustments				31, 2009			26, 2010		Adjustments				26, 2010

Revenues:
Product	$	163,751					$	163,751		$	141,778					$	141,778		$	134,559					$	134,559
Service		36,257						36,257			37,348						37,348			34,154						34,154
Total revenues		200,008						200,008			179,126						179,126			168,713						168,713

Costs and expenses:
Cost of product revenues		99,867						99,867			87,545						87,545			83,511						83,511
Cost of service revenues		20,774						20,774			20,430						20,430			19,726						19,726
Research and development		17,494						17,494			14,213						14,213			16,489						16,489
Selling, general and administrative		52,498						52,498			47,687						47,687			47,741						47,741
Gain on intellectual property sales		(204	)					(204	)		-						-			(2,944	)					(2,944	)
Restructuring charges		-						-			1,947		$	(1,947	)		-			1,817		$	(1,817	)		-
Total costs and expenses		190,429						190,429			171,822			(1,947	)		169,875			166,340			(1,817	)		164,523

Operating profit from continuing operations		9,579						9,579			7,304			1,947			9,251			2,373			1,817			4,190
Interest income		442						442			385						385			243						243
Interest expense		(310	)					(310	)		(282	)					(282	)		(318	)					(318	)
Earnings from continuing operations before income taxes		9,711						9,711			7,407			1,947			9,354			2,298			1,817			4,115
Income tax expense		1,798						1,798			1,400			319			1,719			9,182			589			9,771
Earnings (loss) from continuing operations		7,913						7,913			6,007			1,628			7,635			(6,884	)		1,228			(5,656	)
Loss from discontinued operations, net of tax		-						-			(971	)		-			(971	)		-			-			-
Net earnings (loss)	$	7,913					$	7,913		$	5,036		$	1,628		$	6,664		$	(6,884	)	$	1,228		$	(5,656	)

Basic earnings (loss) per share
Continuing operations	$	0.13					$	0.13		$	0.10		$	0.02		$	0.12		$	(0.11	)	$	0.02		$	(0.09	)
Discontinued operations		-						-			(0.02	)		-			(0.02	)		-			-			-
Net earnings (loss) per share	$	0.13					$	0.13		$	0.08		$	0.02		$	0.10		$	(0.11	)	$	0.02		$	(0.09	)

Diluted earnings (loss) per share
Continuing operations	$	0.13					$	0.13		$	0.10		$	0.02		$	0.12		$	(0.11	)	$	0.02		$	(0.09	)
Discontinued operations		-						-			(0.02	)		-			(0.02	)		-			-			-
Net earnings (loss) per share	$	0.13					$	0.13		$	0.08		$	0.02		$	0.10		$	(0.11	)	$	0.02		$	(0.09	)

Shares used in computing basic earnings (loss) per share		60,340						60,340			61,788			61,788			61,788			61,412			61,412			61,412
Shares used in computing diluted earnings (loss) per share		60,648						60,648			61,954			61,954			61,954			61,412			61,412			61,412



	Twelve Months Ended
							Adjusted									Adjusted
	December			Non-GAAP			December			December			Non-GAAP			December
		31, 2010		Adjustments				31, 2010			31, 2009		Adjustments				31, 2009

Revenues:
Product	$	542,783					$	542,783		$	519,603					$	519,603
Service		136,328						136,328			138,602						138,602
Total revenues		679,111						679,111			658,205						658,205

Costs and expenses:
Cost of product revenues		338,220						338,220			331,128						331,128
Cost of service revenues		79,619						79,619			78,519						78,519
Research and development		67,271						67,271			59,566						59,566
Selling, general and administrative		191,070						191,070			187,867						187,867
Gain on intellectual property sales		(3,148	)					(3,148	)		-						-
Restructuring charges		2,780		$	(2,780	)		-			20,577		$	(20,577	)		-
Impairment of facility		3,008			(3,008	)		-			-			-			-
Total costs and expenses		678,820			(5,788	)		673,032			677,657			(20,577	)		657,080

Operating profit (loss) from continuing operations		291			5,788			6,079			(19,452	)		20,577			1,125
Interest income		1,229						1,229			1,312						1,312
Interest expense		(1,296	)					(1,296	)		(995	)					(995	)
Earnings (loss) from continuing operations before income taxes		224			5,788			6,012			(19,135	)		20,577			1,442
Income tax expense (benefit)		5,549			2,007			7,556			(8,263	)		7,052			(1,211	)
(Loss) earnings from continuing operations		(5,325	)		3,781			(1,544	)		(10,872	)		13,525			2,653
Loss from discontinued operations, net of tax		-			-			-			(971	)		-			(971	)
Net (loss) earnings	$	(5,325	)	$	3,781		$	(1,544	)	$	(11,843	)	$	13,525		$	1,682

Basic (loss) earnings per share
Continuing operations	$	(0.09	)	$	0.06		$	(0.03	)	$	(0.17	)	$	0.22		$	0.05
Discontinued operations		-			-			-			(0.02	)		-			(0.02	)
Net (loss) earnings per share	$	(0.09	)	$	0.06		$	(0.03	)	$	(0.19	)	$	0.22		$	0.03

Diluted (loss) earnings per share
Continuing operations	$	(0.09	)	$	0.06		$	(0.03	)	$	(0.17	)	$	0.22		$	0.05
Discontinued operations		-			-			-			(0.02	)		-			(0.02	)
Net (loss) earnings per share	$	(0.09	)	$	0.06		$	(0.03	)	$	(0.19	)	$	0.22		$	0.03

Shares used in computing basic (loss) earnings per share		61,364			61,364			61,364			61,644			61,644			61,664
Shares used in computing diluted (loss) earnings per share		61,364			61,364			61,364			61,644			61,884			61,884


INTERMEC, INC.

SUPPLEMENTAL SALES INFORMATION BY CATEGORY
(Amounts in millions)
(Unaudited)

	Three Months Ended										Three Months Ended
									Percent						Percent
	December		Percent of		December		Percent of		Change in		September		Percent of		Change in
	31, 2010		Revenues		31, 2009		Revenues		Revenues		26, 2010		Revenues		Revenues
Revenues by category:
Systems and solutions	$	120.6	60.3	%	$	100.7	56.2	%	19.8	%	$	93.2	55.2	%	29.4	%
Printer and media		43.2	21.6	%		41.1	23.0	%	5.1	%		41.4	24.6	%	4.3	%
Total product		163.8	81.9	%		141.8	79.2	%	15.5	%		134.6	79.8	%	21.7	%
Service		36.2	18.1	%		37.3	20.8	%	(2.9	%)		34.1	20.2	%	6.2	%
Total revenues	$	200.0	100.0	%	$	179.1	100.0	%	11.7	%	$	168.7	100.0	%	18.6	%


	Twelve Months Ended
									Percent
	December		Percent of		December		Percent of		Change in
	31, 2010		Revenues		31, 2009		Revenues		Revenues
Revenues by category:
Systems and solutions	$	379.2	55.8	%	$	368.2	55.9	%	3.0	%
Printer and media		163.6	24.1	%		151.4	23.0	%	8.1	%
Total product		542.8	79.9	%		519.6	78.9	%	4.5	%
Service		136.3	20.1	%		138.6	21.1	%	(1.7	%)
Total revenues	$	679.1	100.0	%	$	658.2	100.0	%	3.2	%


SUPPLEMENTAL SALES INFORMATION BY GEOGRAPHICAL REGION
(Amounts in millions)
(Unaudited)

	Three Months Ended										Three Months Ended
									Percent						Percent
	December		Percent of		December		Percent of		Change in		September		Percent of		Change in
	31, 2010		Revenues		31, 2009		Revenues		Revenues		26, 2010		Revenues		Revenues
Revenues by geographic region:
North America	$	100.8	50.4	%	$	92.3	51.5	%	9.2	%	$	84.1	49.8	%	19.9	%
Europe, Middle East and Africa (EMEA)		61.6	30.8	%		53.4	29.8	%	15.4	%		50.8	30.1	%	21.3	%
All others		37.6	18.8	%		33.4	18.7	%	12.6	%		33.8	20.1	%	11.2	%
Total revenues	$	200.0	100.0	%	$	179.1	100.0	%	11.7	%	$	168.7	100.0	%	18.6	%


	Twelve Months Ended
									Percent
	December		Percent of		December		Percent of		Change in
	31, 2010		Revenues		31, 2009		Revenues		Revenues
Revenues by geographic region:
North America	$	344.1	50.7	%	$	373.2	56.7	%	(7.8	%)
Europe, Middle East and Africa (EMEA)		213.0	31.3	%		186.8	28.4	%	14.0	%
All others		122.0	18.0	%		98.2	14.9	%	24.2	%
Total revenues	$	679.1	100.0	%	$	658.2	100.0	%	3.2	%

Intermec, Inc.
Kevin McCarty, 425-265-2472
Vice President, Corporate Development &
Investor Relations
kevin.mccarty@intermec.com

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Intermec Reports Fourth Quarter and Full Year 2010 Results

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