Wednesday, October 26, 2011

Motorola Solutions Reports Strong Q3, Raises Outlook

Motorola Solutions reported Q3 sales of $2.1 billion, up 10 percent from the third quarter of 2010 and driven by solid demand in all regions across both its Government and Enterprise segments. GAAP operating earnings in the third quarter of 2011 were $253 million or 12 percent of sales, compared to $211 million or 11 percent of sales in the third quarter of 2010. GAAP earnings per share from continuing operations were $0.45, compared to a GAAP loss of $0.04 in the third quarter of 2010.

“Our customers continue to invest in solutions that increase revenues and improve operating efficiency,�? said Greg Brown, chairman and CEO of Motorola Solutions. “In addition to our robust growth this quarter, we returned significant capital to shareholders. We repurchased $744 million of stock, initiated our dividend and generated very strong operating cash flow.�?

Government segment sales were $1.4 billion, up 9 percent from the year-ago quarter. Enterprise segment sales were $726 million, up 13 percent from the year-ago quarter.

Motorola Solutions also raised its expected full-year revenue outlook to approximately 7 percent growth with operating earnings of approximately 16.5 percent of sales. Fourth-quarter sales are expected to grow between 2 and 3 percent compared with the fourth quarter of 2010 and approximately 7 percent compared with the third quarter of 2011.