Zebra Technologies Corp reported fourth-quarter FY21 non-GAAP net sales growth of 11.7 percent year-on-year to $1.47 billion, beating the consensus of $1.46 billion. Consolidated organic net sales for the quarter increased 10 percent.
Net sales in the Enterprise Visibility & Mobility segment rose from $888 million to $1.02 billion. Asset Intelligence & Tracking segment net sales grew to $444 million from $425 million.
The non-GAAP gross margin contracted 210 bps to 45.7 percent.
The non-GAAP EBITDA margin contracted 180 bps to 21.7 percent.
Non-GAAP EPS of $4.54 beat the consensus of $4.40.
Zebra held $332 million in cash and equivalents.
Zebra sees Q1 FY22 net sales to increase 1 percent – 3 percent Y/Y, representing $1.364 billion – $1.391 billion, below the consensus of $1.410 billion.
It sees non-GAAP EPS of $3.70-$4.00, below the consensus of $4.40.
Zebra sees FY22 net sales to increase 3 percent – 7 percent, representing $5.802 billion – $6.027 billion versus the consensus of $5.92 billion.
“Performance was at the high end of our guidance, despite an exceptionally challenging supply chain environment, including premium freight costs that were higher than our expectations,” said CEO Anders Gustafsson. “While the supply chain constrains us from fully satisfying customer demand, we enter the year with a strong order backlog and a robust pipeline of business, positioning us well for profitable growth in 2022.”
By Anusuya Lahiri
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