Supply chain issues slow Zebra Technologies

LINCOLNSHIRE - Zebra Technologies Corp. Tuesday announced results for its fiscal year third quarter ended Oct. 1, including net sales of $170 million, down from $199 million in the same quarter last year.

Net income per deluted share was $3.26, compared to $3.69 in the third quarter of 2021, down 11.7%.

Net sales of $1.4 billion represent a year-over-year decrease of 4%.

"We are recovering from supply chain challenges related to persistent component shortages and the transition to our new North American distribution center," said Anders Gustafsson, chief executive officer of Zebra. "These challenges, along with certain large customer projects being deferred, impacted product shipments exiting the quarter, resulting in lower-than-expected sales and profitability."

While customer demand and Zebra's order pipeline generally remain solid, the company has experienced softening demand and elongated sales cycles since late in the third quarter, he said.

Zebra supplies hardware, software, services and solutions that digitize and automate work flows in retail and many other industries.