For the full year 2013, Enterprise segment sales were $2.7 billion, down 2 percent from 2012. GAAP operating earnings were $236 million or 8.9 percent of sales compared to $291 million or 10.7 percent of sales in 2012. Non-GAAP operating earnings were $358 million or 13.4 percent of sales compared to $395 million or 14.6 percent of sales in 2012.
Enterprise highlights:
- Secured contracts with key customers such as retailers Walmart, David Jones in Australia, Yonghui Superstores in China and Jumbo Supermarkets in the Netherlands; as well as China Healthcare; Xcel Energy; and couriers TNT Express, Poste Italiane, Correos in Spain and APC Overnight in the U.K.
- Launched TC55 touch computer, which combines the best features of a traditional enterprise-class mobile computer with the form factor and functionality of a smartphone running the Jelly Bean version of the Android operating system supported by new Extensions (Mx); also introduced MC55HC rugged mobile computer, MC75AO-HC rugged enterprise digital assistant and ET1 tablet customized for healthcare use, delivering one of the industry’s broadest healthcare portfolios of mobile computer products
- Earned CRN’s Product of the Year and Most Innovative Products of the Year designations for SB1 Smart Badge, and received prestigious GOOD DESIGN™ awards for MC40, MC45 and VC70 and mobile computers
First-Quarter and Full-Year Outlook
Motorola Solutions’ outlook for the first quarter of 2014 is for revenue decline of 4 to 6 percent compared with the first quarter of 2013 and Non-GAAP earnings per share from continuing operations of $0.46 to $0.52 per share. For the full-year 2014, the company expects revenue growth of flat to 2 percent compared with 2013 and Non-GAAP operating earnings of approximately 18.5 percent of sales. This outlook excludes stock-based compensation, intangible amortization and charges associated with items typically highlighted by the company in its quarterly earnings releases.
Consolidated GAAP Results
A comparison of results from operations is as follows:
| Fourth Quarter | Full Year | |||||||
| 2013 | 2012 | 2013 | 2012 | |||||
| Net sales ($M) | $2,504 | $2,441 | $8,696 | $8,698 | ||||
| Gross margin ($M) | 1,214 | 1,229 | 4,241 | 4,348 | ||||
| Operating earnings ($M) | 413 | 423 | 1,215 | 1,256 | ||||
| Earnings from continuing operations ($M) | 343 | 336 | 1,099 | 878 | ||||
| Net earnings ($M) | 343 | 336 | 1,099 | 881 | ||||
| Diluted EPS from continuing operations | $1.31 | $1.18 | $4.06 | $2.95 | ||||
| Weighted average diluted common shares outstanding | 261.2 | 284.4 |
270.5 |
297.4 | ||||
