Motorola Solutions, Inc. (NYSE: MSI):
- Sales of $2.1 billion, down 2 percent from a year ago
- GAAP earnings per share (EPS) from continuing operations* of $0.94
- Non-GAAP** EPS from continuing operations of $1.12
- GAAP, Non-GAAP results impacted by $118 million of net tax benefits
- Increases quarterly cash dividend by 19 percent to $0.31 per share
- Expands share repurchase program by $2.0 billion
|Total sales ($M)||$2,107||$2,148||-2%|
|GAAP operating earnings ($M)||$266||$278||-4%|
|Non-GAAP operating earnings ($M)||$334||$350||-5%|
|GAAP EPS from continuing operations||$0.94||$0.60||57%|
|Non-GAAP EPS from continuing operations||$1.12||$0.70||60%|
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Motorola Solutions, Inc. (NYSE: MSI) announced today second-quarter 2013 sales of $2.1 billion, down 2 percent from the second quarter of 2012. Government sales were down 1 percent, while Enterprise sales declined 5 percent.
In addition, the company announced today that its board of directors has increased its regular quarterly cash dividend by 19 percent to $0.31 per share. The next quarterly dividend will be payable on Oct. 15, 2013, to stockholders of record at the close of business on Sept. 13, 2013. As part of its continuing plan to return capital to shareholders, the company’s board also has authorized an additional $2.0 billion in share repurchases, with no expiration date. This increase is in addition to the $5.0 billion currently authorized, $4.5 billion of which has been utilized in the last 24 months. The company may continue to repurchase shares from time to time in the open market or in other privately negotiated transactions, subject to market conditions.
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