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Zebra Technologies Announces Third - Quarter 2021 Results 11/02/2021 Third - Quarter Financial Highlights • Net sales of $ 1,436 million ; year - over - year increase of 26.9 % Net income of $ 199 million and net income per diluted share of $ 3.69 , year - over - year increases of 71.6 % and 70.8 % , respectively Non - GAAP diluted EPS increased 39.1 % year - over - year to $ 4.55 Adjusted EBITDA increased 35.7 % year - over - year to $ 312 million LINCOLNSHIRE , III .-- ( BUSINESS WIRE ) -- 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 third quarter ended October 2 , 2021 . " Our team delivered exceptional third - quarter results that exceeded our outlook , supported by broad - based demand for our solutions and tireless actions taken to mitigate the impact of industry - wide supply chain disruption , " said Anders Gustafsson , Chief Executive Officer of Zebra Technologies . “ We entered the fourth quarter with a strong order backlog and robust pipeline of business which supports our strong sales outlook despite extended lead times for certain products . Additionally , we are focused on investing in adjacent expansion markets that advance our Enterprise Asset Intelligence vision , including our recent acquisition of antuit.ai which provides Al - powered demand sensing for retailers and consumer packaged goods companies . " $ in millions , except per share amounts 3Q21 3Q20 Change Select reported measures : Net sales $ 1,436 $ 1,132 26.9 % Gross profit Gross margin Net income 646 45.0 % 493 31.0 % 43.6 % 140 bps Net income margin 199 13.9 % 116 71.6 % 10.2 % 370 bps Net income per diluted share $ 3.69 $ 2.16 70.8 % Select Non - GAAP measures : Adjusted net sales Organic net sales growth Adjusted gross profit Adjusted gross margin $ 1,436 $ 1,134 26.6 % 23.2 % 648 497 30.4 % 45.1 % 43.8 % 130 bps Adjusted EBITDA 312 230 Adjusted EBITDA margin 21.7 % 35.7 % 20.3 % 140 bps Non - GAAP net income $ 245 $ 175 Non - GAAP earnings per diluted share $ 4.55 $ 3.27 40.0 % 39.1 % Net sales were $ 1,436 million in the third quarter of 2021 compared to $ 1,132 million in the third quarter of 2020. Net sales in the Enterprise Visibility & Mobility ( " EVM " ) segment were $ 1,050 million in the third quarter of 2021 compared with $ 795 million in the third quarter of 2020. Asset Intelligence & Tracking ( " AIT " ) segment net sales were $ 386 million in the