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Zebra technologies corp1/18/2024 ![]() Net income for the first quarter of 2021 was $228 million, or $4.22 per diluted share, compared to net income of $89 million, or $1.65 per diluted share, for the first quarter of 2020. Adjusted operating expenses increased in the first quarter of 2021 to $337 million from $292 million in the prior year period. These increases were partially offset by lower travel expenses in the current year and the prior year costs associated with the 2019 Productivity Plan and product sourcing geographic diversification initiative. Operating expenses increased in the first quarter of 2021 to $383 million from $322 million in the prior year period, primarily due to higher employee incentive-based compensation associated with improved financial performance the inclusion of operating and amortization expenses associated with recently acquired businesses and increased investment in research and development programs principally within our EVM segment. Adjusted gross margin was 48.9% in the first quarter of 2021, compared to 45.2% in the prior year period. This favorability was partially offset by $11 million of incremental premium freight expense, and surcharges on certain component parts. This increase was primarily due to favorable business mix, higher service and software margin, $10 million net favorability in Chinese import tariffs, and contribution from higher margin business acquisitions. Gross margin increased to 48.6% for the first quarter of 2021, compared to 45.0% in the prior year period. First-quarter year-over-year organic net sales increased by 26.8% in the EVM segment and increased by 21.4% in the AIT segment.įirst-quarter 2021 gross profit was $655 million compared to $473 million in the prior year period. ![]() Consolidated organic net sales for the first quarter increased 25.0%. Asset Intelligence & Tracking ("AIT") segment net sales were $436 million in the first quarter of 2021 compared to $355 million in the prior year period. Net sales in the Enterprise Visibility & Mobility ("EVM") segment were $914 million in the first quarter of 2021 compared with $697 million in the first quarter of 2020. Net sales were $1,347 million in the first quarter of 2021 compared to $1,052 million in the first quarter of 2020. We continue to be excited about our growing portfolio of solutions that digitize and automate our customers’ workflows in an increasingly on-demand economy." This momentum drives our exceptionally strong Q2 sales growth expectation, and coupled with our encouraging pipeline of business, enables us to raise our full year 2021 outlook for both sales and profitability. “We enter Q2 with a strong order backlog as we see global business demand recover and customers prioritizing spending on our solutions. ![]() We achieved record quarterly sales and earnings which exceeded our expectations, despite industry supply chain challenges,” said Anders Gustafsson, Chief Executive Officer of Zebra Technologies. “I'm proud of our teams’ exceptional first quarter performance as we continue to realize a strong recovery from the pandemic. ![]() Zebra Technologies Corporation (NASDAQ: ZBRA), an innovator at the edge of the enterprise with solutions and partners that enable businesses to gain a performance edge, today announced results for the first quarter ended April 3, 2021. Non-GAAP diluted EPS increases 79.4% year-over-year to $4.79Īdjusted EBITDA increases 69.7% year-over-year to $341 million Net income of $228 million and net income per diluted share of $4.22, year-over-year increases of 156.2% and 155.8%, respectively Net sales of $1,347 million year-over-year increase of 28.0%
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