Image source: Zebra Technologies.

What: Asset intelligence product and service provider Zebra Technologies (ZBRA -2.64%) stock fell as much as 16.3% on Thursday following the release of the company's fourth-quarter results, and shares are down about 15% at the time of this writing.

So what: The stock's sell-off on Thursday is likely at least partially a result of the company's worse-than-expected revenue for the quarter, along with its weaker-than-expected outlook for the current quarter.

On average, analysts were expecting Zebra to report revenue and non-GAAP EPS of $960 million and $1.47, respectively. Instead, the company reported revenue and non-GAAP EPS of $953 million and $1.51. EPS, therefore, came in slightly higher than anticipated but revenue was worse than the average analyst estimate.

Looking ahead, the company said it expects first quarter non-GAAP EPS to be in the range of $1.19 to $1.34. On average, analysts were expecting first-quarter EPS of $1.37 -- above Zebra's guidance range.

Now what: Going forward, Zebra CEO Anders Gustafsson said the company currently has a "healthy pipeline of activity" and expects "to gain momentum through the remainder of the year, enabling us to meet our growth goals for 2016 and longer-term."