Motorola Solutions announced today (25 July 2012) its second-quarter 2012 results which saw sales revenue rise by 8% to $2.1bn (£1.3bn) compared with the second quarter of 2011 driven by strong worldwide demand in its Government segment.
Greg Brown, chairman and CEO of Motorola Solutions (pictured), said: ‘Our strong revenue and earnings growth continues to demonstrate the strength and resiliency of our business. We also are pleased to continue to return capital to our shareholders through an increased dividend and expanded share repurchase program.’
GAAP operating earnings in the second quarter of 2012 were $278m (£179m) or 12.9% of sales, compared with $159m (£102m) or 8% of sales in the second quarter of 2011.
Non-GAAP operating earnings in the second quarter of 2012 were $350m (£226m) or 16.3% of sales, compared with $304m (£196m) or 15.3% of sales in the second quarter of 2011.
During the second quarter of 2012, the company generated $254m in operating cash flow from continuing operations. Additionally, the company repurchased $439m (£164m) in shares, paid $64m (£41m) in dividends and ended the quarter with total cash of $3.7bn (£2.3bn).
Government segment sales were $1.5bn (£969m), up 14% from the year-ago quarter, driven by growth in all regions. GAAP operating earnings were $197m (£127m) or 13.5% of sales compared to $105m (£67m) or 8.2% of sales in the year-ago quarter.
Enterprise segment sales were $689m (£445m), down 2% from the year-ago quarter, which included the anticipated decline in iDEN sales. GAAP operating earnings were $81m (£52m) or 11.8% of sales compared with $54m (£35m) or 7.7% of sales in the year-ago quarter.
The company expects third-quarter sales to grow approximately 3% compared with the third quarter of 2011. The company is increasing its full-year 2012 outlook of sales growth to 5-6% from approximately 5% compared with 2011.