This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Motorola Solutions Reports First-Quarter 2014 Financial Results

Stocks in this article: MSI

Motorola Solutions, Inc. (NYSE: MSI) today reported its earnings results for the first quarter of 2014. Click here for printable press release and financial tables.

REVENUE

  • Government segment sales declined 11 percent to $1.2 billion reflecting lower aged backlog in the quarter and a challenging year-ago comparison in the Federal business. In addition, North America sales were weaker than expected due to lower ASTRO and professional commercial radio subscriber volume. Global sales were strong in TETRA, and the Services business grew single-digits for the quarter.
  • Enterprise segment sales declined 4 percent to $600 million primarily due to the expected decline in iDEN. Excluding the impact of iDEN, Enterprise revenues declined less than 1 percent primarily driven by the delay of several deals late in the quarter, primarily in North America.

SUPPORTING QUOTE

Greg Brown, chairman and CEO, Motorola Solutions

“First quarter sales results were below expectations due to lower order volume in both Enterprise and North America Government,” said Greg Brown, chairman and CEO, Motorola Solutions. “The long-term fundamentals of our Government business remain solid and, with the announced sale of the Enterprise business, we will accelerate ongoing cost actions to improve our competitiveness and operating leverage going forward.”

KEY FINANCIAL RESULTS

         
  First Quarter   Change
    2014   2013  
Motorola Solutions, Inc.            
Sales ($M)   $1,801   $1,973   -9%
GAAP            
Operating earnings ($M)   $170   $216   -21%
Percent of sales   9.4%   10.9%    
Earnings per share   $0.49   $0.68   -28%
Non-GAAP            
Operating earnings ($M)   $212   $278   -24%
Percent of sales   11.8%   14.1%    
Earnings per share   $0.50   $0.66   -24%
             

Segments

           
Government            
Revenue ($M)   $1,201   $1,346   -11%
GAAP operating earnings ($M)   $113   $180   -37%
Percent of sales   9.4%   13.4%    
Non-GAAP operating earnings ($M)   $140   $217   -35%
Percent of sales   11.7%   16.1%    
             
Enterprise            
Revenue ($M)   $600   $627   -4%
GAAP operating earnings ($M)   $57   $36   58%
Percent of sales   9.5%   5.7%    
Non-GAAP operating earnings ($M)   $72   $61   18%
Percent of sales   12.0%   9.7%    
 

Non-GAAP financial information excludes after-tax net loss of approximately $0.01 per diluted share related to share-based compensation, intangible amortization and highlighted items. Details on these non-GAAP adjustments and the use of non-GAAP measures are included later in this press release.

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,399.67 +19.26 0.12%
S&P 500 1,904.01 +17.25 0.91%
NASDAQ 4,316.0740 +57.6360 1.35%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs