Motorola Solutions Reports Third-Quarter 2016 Financial Results

Motorola Solutions, Inc. (NYSE: MSI) today reported its earnings results for the third quarter of 2016. Click here for a printable news release and financial tables.

The company also today announced that its board of directors has increased its regular quarterly dividend by 15 percent to 47 cents per share. The next quarterly dividend will be payable in cash on Jan. 13, 2017, to stockholders of record at the close of business on Dec. 15, 2016.

"Q3 was an excellent quarter," said Greg Brown, chairman and CEO of Motorola Solutions. "I'm pleased with our revenue growth and continued strong performance in earnings and cash flow generation."
 

KEY FINANCIAL RESULTS (presented in millions, except per share data and percentages)
                   
      Q3 2016     Q3 2015     % Change
Sales     $1,532     $1,422     8 %
GAAP            
Operating Earnings $341 $231 48 %
% of Sales 22.3% 16.2%
EPS from continuing operations     $1.13     $0.63     79 %
Non-GAAP
Operating Earnings $396 $292 36 %
% of Sales 25.8% 20.5%
EPS from continuing operations     $1.37     $0.82     67 %
Products Segment
Sales $920 $925 (1 )%
GAAP Operating Earnings $225 $178 26 %
% of Sales 24.5% 19.2%
Non-GAAP Operating Earnings $243 $221 10 %
% of Sales     26.4%     23.9%      
Services Segment
Sales $612 $497 23 %
GAAP Operating Earnings $116 $53 119 %
% of Sales 19.0% 10.7%
Non-GAAP Operating Earnings $153 $71 115 %
% of Sales     25.0%     14.3%      
   

*Non-GAAP financial information excludes the after-tax impact of approximately $0.24 per diluted share related to share-based compensation, intangible assets amortization expense and highlighted items. Details on these non-GAAP adjustments and the use of non-GAAP measures are included later in this news release.

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