- Sales of $1.2 billion, flat from a year ago, including $40 million of unfavorable foreign currency impact
- North America sales grew 6 percent, driven by Product segment sales
- GAAP earnings per share (EPS) from continuing operations1 of $0.40
- Non-GAAP2 earnings per share (EPS) from continuing operations of $0.38 driven by lower overall operating expenses
- Generated $151 million in operating cash flow
- Returned $728 million to shareholders through share repurchases and cash dividends, including the repurchase of $653 million of stock in the quarter
SCHAUMBURG, Ill. — (BUSINESS WIRE) — May 6, 2015 — Motorola Solutions, Inc. (NYSE: MSI) today reported its earnings results for the first quarter of 2015. Click here for a printable news release and financial tables.
SUPPORTING QUOTE
“The company delivered strong double-digit profitability growth in the first quarter, driven primarily by strength in our North America business and a leaner cost structure,” said Greg Brown, chairman and CEO of Motorola Solutions. “We remain committed to driving growth through innovation as well as improving operating leverage and cash flow generation.”
KEY FINANCIAL RESULTS (presented in millions, except per share data and percentages)
| Q1 2015 | Q1 2014 | % Change | ||||
| Sales | $1,223 | $1,228 | 0% | |||
| GAAP | ||||||
| Operating Earnings | $119 | $107 | 11% | |||
| % of Sales | 9.7% | 8.7% | ||||
| EPS from continuing operations | $0.40 | $0.33 | 21% | |||
| Non-GAAP | ||||||
| Operating Earnings | $156 | $126 | 24% | |||
| % of Sales | 12.8% | 10.3% | ||||
| EPS from continuing operations | $0.38 | $0.28 | 36% | |||
| Product Segment | ||||||
| Sales | $758 | $752 | 1% | |||
| GAAP Operating Earnings | $64 | $39 | 64% | |||
| % of Sales | 8.4% | 5.2% | ||||
| Non-GAAP Operating Earnings | $90 | $52 | 73% | |||
| % of Sales | 11.9% | 6.9% | ||||
| Services Segment | ||||||
| Sales | $465 | $476 | -2% | |||
| GAAP Operating Earnings | $55 | $68 | -19% | |||
| % of Sales | 11.8% | 14.3% | ||||
| Non-GAAP Operating Earnings | $66 | $74 | -11% | |||
| % of Sales | 14.2% | 15.5% | ||||
