Zebra registers 28% growth in Q1

Zebra Technologies, announced results for the first quarter ended April 3, 2021 and the company clocked net sales of $1,347 million in the first quarter of 2021 compared to $1,052 million in the first quarter of 2020 registering an 28% year-over-year increase in its first quarter.

Anders Gustafsson, Chief Executive Officer of Zebra Technologies

The first-quarter 2021 gross profit was $655 million compared to $473 million in the prior year period. Gross margin increased to 48.6% for the first quarter of 2021, compared to 45.0% in the prior year period.

The company expects second-quarter 2021 adjusted net sales to increase 38% to 42% from the second quarter of 2020 as the global economy continues to recover and we continue to realize pent-up demand from many customers.

“I’m proud of our teams’ exceptional first quarter performance as we continue to realize a strong recovery from the pandemic. 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. “We enter Q2 with a strong order backlog as we see global business demand recover and customers prioritizing spending on our solutions. 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 continue to be excited about our growing portfolio of solutions that digitize and automate our customers’ workflows in an increasingly on-demand economy.”

Zebra expects the adjusted net sales for the financial year 2021 to increase 18% to 22% from 2020, which includes an approximately 3 percentage point additive impact from the Reflexis acquisition and foreign currency translation, and reflects industry supply chain challenges.