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Motorola Solutions Reports Fourth-Quarter And Full-Year 2013 Financial Results

Motorola Solutions, Inc. (NYSE: MSI):
  • Fourth-quarter sales up 3 percent from a year ago; flat for the full year
  • Fourth-quarter Government sales up 4 percent from a year ago; up 1 percent for the full year
  • Fourth-quarter GAAP earnings per share (EPS) from continuing operations* up 11 percent from a year ago; up 38 percent for the full year
  • Fourth-quarter Non-GAAP** EPS from continuing operations up 52 percent from a year ago; up 48 percent for the full year, including a one-time tax benefit of $1.25
  • Generated $741 million in operating cash flow during the quarter; $944 million for the full year
  • Repurchased $362 million of shares in the quarter; $1.7 billion for the full year
    Fourth Quarter   Full Year
    2013   2012   Change   2013   2012   Change
Total sales ($M)   $2,504   $2,441   3%   $8,696   $8,698   0%
GAAP operating earnings ($M)   $413   $423   -2%   $1,215   $1,256   -3%
Non-GAAP operating earnings ($M)   $519   $476   9%   $1,527   $1,503   2%
GAAP EPS from continuing operations   $1.31   $1.18   11%   $4.06   $2.95   38%
Non-GAAP EPS from continuing operations   $1.67   $1.10   52%   $4.73   $3.20   48%

Click here for printable press release and financial tables.

Motorola Solutions, Inc. (NYSE: MSI) announced today its fourth-quarter and full-year 2013 results highlighted by fourth-quarter sales of $2.5 billion, up 3 percent from the fourth quarter of 2012, and full-year sales of $8.7 billion, flat compared with 2012. For the fourth quarter, Government sales were up 4 percent and Enterprise sales were up slightly.

“I’m pleased with the way we finished the year,” said Greg Brown, chairman and CEO of Motorola Solutions. “In Q4, we had revenue growth in both our Government and Enterprise businesses. We also had strong cash generation, expanded operating margin, grew backlog in both businesses, and continued to return capital to shareholders.”

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