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November 8 , 2021 TECHNOLOGIES Helios Technologies ' Effective Execution of Augmented Strategy Drives 82 % Sales Growth and Strong Cash Generation in Third Quarter 2021 • Strong organic sales growth of 30 % in the quarter driven by high demand , operational flexibility , diversified end markets , and new products • Executed well against supply chain constraints and material costs ; Net income grew to $ 27.8 million , up 114 % over the prior - year period • Adjusted EBITDA¹ margin expanded 170 basis points over prior - year period to 25.1 % • Diluted EPS of $ 0.86 up 115 % from last year ; Non - GAAP Cash EPS of $ 1.07 up 102 % • Generated $ 32.5 million of cash from operations and $ 25.7 million of free cash flow ; further reduced net debt to adjusted EBITDA leverage ratio to 2.0x² • Raising revenue and Non - GAAP Cash EPS expectations for fiscal 2021 and holding margins reflecting strong results year - to - date in continued challenging environment amidst robust demand Ⓡ SARASOTA , Fla .-- ( BUSINESS WIRE ) -- Helios Technologies , Inc. ( NYSE : HLIO ) ( " Helios " or the " Company " ) , a global leader in highly engineered motion control and electronic controls technology for diverse end markets , today reported financial results for the third quarter ended October 2 , 2021. Results include the acquisitions of BWG Holdings I Corp. ( known as " Balboa Water Group " or " Balboa acquisition " ) , on November 6 , 2020 , and NEM S.r.l. ( " NEM " ) on July 9 , 2021 . Josef Matosevic , the Company's President and Chief Executive Officer , commented , " We continue to outperform the market due to excellent execution by the Helios team . Our consistent strong results are driven by our strategic initiatives to protect our business , leverage our manufacturing footprint , advance our innovation pipeline and diversify our markets . We are mitigating the challenges related to material shortages while protecting our margins with our manufacturing strategy . As a result , we have been able to hold our lead times and gain market share because of our ability to deliver . In fact , we furthered our ' in the region for the region ' approach with the acquisition of assets of Joyonway in October . This is a fast - growing developer of control panels , software , systems and accessories for the health and wellness industry that operates in two locations in China , which are in the hub of electronics and software development for that country . " He concluded , " Through all of this , we are staying true to our focus as a pure electronics and hydraulics business that delivers high - quality innovative products to our customers . We are evolving and leveraging our businesses to bring more unified system solutions to the