Motorola Solutions announces record fourth quarter and 2011 full year results

Solid demand in all regions sees Q4 2011 sales rise 5% to $2.3bn, while full year results are up 8% to $8.2bn

Motorola Solutions announces record fourth quarter and 2011 full year results

Motorola Solutions has announced fourth-quarter sales of $2.3bn, up 5% from the fourth quarter of 2010 and full-year sales of $8.2bn, up 8% from 2010. The revenue growth reflects solid demand in all regions across both the Government and Enterprise segments.

GAAP operating earnings in the fourth quarter of 2011 were $276 million compared with $272 million in the fourth quarter of 2010. For the full year 2011, GAAP operating earnings were $858 million, compared with $751 million in 2010. The company ended the quarter with total cash of $5.1 billion.

Greg Brown, chairman and CEO of Motorola Solutions (pictured), said: ‘Our record fourth quarter capped a very strong and exciting year for our company. We streamlined and strengthened our portfolio, grew operating earnings more than five times revenue growth, expanded operating margins, generated strong cash flow and prioritized return of capital to our shareholders.’  

Government segment sales accounted for $1.5bn of earnings, up 6% from the year-ago quarter. GAAP operating earnings were $226 million or 15% of sales compared with $181 million or 12% of sales in the year-ago quarter.  For the full year 2011, Government segment sales were $5.4bn, up 6% from 2010. GAAP operating earnings were $616 million or 1% of sales compared to $534 million or 11% of sales in 2010.

Enterprise segment sales were $753 million, up 3% from the year-ago quarter, which included a $37 million decline in iDEN sales. GAAP operating earnings were $50 million or 7% of sales compared to $91 million or 12% of sales in the year-ago quarter.

For the full year 2011, Enterprise segment sales were $2.8bn, up 11% from 2010. GAAP operating earnings were $242 million or 9% of sales compared to $217 million or 8 percent of sales in 2010.

Motorola Solutions’ outlook for the first quarter of 2012 is for revenue growth of approximately 4% compared with the first quarter of 2011. For the full-year 2012, the company expects revenue growth of approximately 5% compared with 2011 and operating earnings of approximately 17% of sales. 

 

Fourth Quarter

Full Year

(In millions, except earnings per share)

2011

2010

Change

2011

2010

Change

Total sales

$2,300

$2,185

5%

$8,203

$7,617

8%

GAAP operating earnings

$276

$272

1%

$858

$751

14%

Non-GAAP operating earnings

$444

$346

28%

$1,373

$1,064

29%

GAAP EPS from continuing operations**

$0.54

$0.49

10%

$2.20

$0.72

206%

Non-GAAP*** EPS from continuing operations**

$0.87

$0.64

36%

$2.61

$1.84

42%

 

 

Written by Wireless magazine
Wireless magazine

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