Company achieves full-year record operating earnings, free cash flow1 and backlog
FOURTH-QUARTER HIGHLIGHTS
- Sales of $1.9 billion, up 12 percent from a year ago, including $124 million from Airwave
- Products sales of $1.2 billion, up $101 million or 9 percent
- GAAP earnings per share (EPS) from continuing operations of $1.43
- Non-GAAP EPS from continuing operations2 of $2.03, up 28 percent
- Generated $513 million in operating cash flow; $1.2 billion for the full year
- Generated $453 million in free cash flow1; $894 million for the full year
- Acquired Spillman Technologies, expanding command center software capabilities
CHICAGO — (BUSINESS WIRE) — February 2, 2017 — Motorola Solutions, Inc. (NYSE: MSI) today reported its earnings results for the fourth quarter and full year of 2016. Click here for a printable news release and financial tables.
SUPPORTING QUOTE
“We ended the year with an outstanding fourth quarter, and I am very encouraged with our strong competitive position and record backlog entering 2017,” said Greg Brown, chairman and CEO of Motorola Solutions.
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KEY FINANCIAL RESULTS (presented in millions, except per share data and percentages) |
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| Fourth Quarter | Full Year | |||||||||||||||||
| 2016 | 2015 | % Change | 2016 | 2015 | % Change | |||||||||||||
| Sales | $1,883 | $1,682 | 12 | % | $6,038 | $5,695 | 6 | % | ||||||||||
| GAAP | ||||||||||||||||||
| Operating earnings | $403 | $389 | 4 | % | $1,067 | $994 | 7 | % | ||||||||||
| % of Sales | 21.4 | % | 23.1 | % | 17.7 | % | 17.5 | % | ||||||||||
| EPS from continuing operations | $1.43 | $1.56 | (8 | )% | $3.24 | $3.17 | 2 | % | ||||||||||
| Non-GAAP | ||||||||||||||||||
| Operating earnings | $541 | $458 | 18 | % | $1,427 | $1,166 | 22 | % | ||||||||||
| % of Sales | 28.7 | % | 27.2 | % | 23.6 | % | 20.5 | % | ||||||||||
| EPS from continuing operations | $2.03 | $1.58 | 28 | % | $4.92 | $3.33 | 48 | % | ||||||||||
| Products Segment | ||||||||||||||||||
| Sales | $1,226 | $1,125 | 9 | % | $3,649 | $3,676 | (1 | )% | ||||||||||
| GAAP Operating earnings | $330 | $291 | 13 | % | $734 | $704 | 4 | % | ||||||||||
| % of Sales | 26.9 | % | 25.9 | % | 20.1 | % | 19.2 | % | ||||||||||
| Non-GAAP Operating earnings | $407 | $340 | 20 | % | $910 | $827 | 10 | % | ||||||||||
| % of Sales | 33.2 | % | 30.2 | % | 24.9 | % | 22.5 | % | ||||||||||
| Services Segment | ||||||||||||||||||
| Sales | $657 | $557 | 18 | % | $2,389 | $2,019 | 18 | % | ||||||||||
| GAAP Operating earnings | $73 | $98 | (26 | )% | $333 | $290 | 15 | % | ||||||||||
| % of Sales | 11.1 | % | 17.6 | % | 13.9 | % | 14.4 | % | ||||||||||
| Non-GAAP Operating earnings | $134 | $118 | 14 | % | $517 | $339 | 53 | % | ||||||||||
| % of Sales | 20.4 | % | 21.2 | % | 21.6 | % | 16.8 | % | ||||||||||
