Motorola Solutions Reports Third-Quarter 2016 Financial Results

Announces dividend increase of 15 percent to 47 cents per share

Sales of $1.5 billion, up 8 percent from a year ago, including $131 million from Airwave
Managed and Support Services up 55 percent; up 5 percent excluding Airwave
North America up 4 percent on strength in both Products and Services
Operating cash flow of $348 million, up 16 percent
GAAP earnings per share (EPS) from continuing operations¹ of $1.13, up 79 percent
Non-GAAP EPS from continuing operations^* of $1.37, up 67 percent

CHICAGO — (BUSINESS WIRE) — November 3, 2016 — 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%

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