Motorola Solutions Reports Fourth-Quarter and Full-Year Financial Results

KEY HIGHLIGHTS

Services and Software wins

  • $1.1 billion contract extension through 2022 for the Airwave network in the U.K.
  • $71 million services award from Maricopa County, Arizona
  • $26 million Next Gen 911 Core Services contract in North America
  • $16 million services award in Australia

Products and Systems Integration wins

  • $47 million P25 order with Snohomish County, Washington
  • $24 million P25 order with Ingham County, Michigan
  • $16 million P25 order with Riverside County, California

BUSINESS OUTLOOK

  • First-quarter 2019 - Motorola Solutions expects revenue growth of approximately 11 percent compared with the first quarter of 2018. The company expects non-GAAP earnings in the range of $1.11 to $1.16 per share. This assumes current foreign exchange rates, approximately 174 million fully diluted shares and a 25 percent effective tax rate.
  • Full-year 2019 - The company expects revenue growth of approximately 6 to 7 percent and non-GAAP earnings per share in the range of $7.55 to $7.70. This assumes current foreign exchange rates, approximately 175 million fully diluted shares and a 25 percent effective tax rate.

CONFERENCE CALL AND WEBCAST Motorola Solutions will host its quarterly conference call beginning at 4 p.m. U.S. Central Standard Time (5 p.m. U.S. Eastern Standard Time) on Thursday, Feb. 7. The conference call will be webcast live at www.motorolasolutions.com/investor.

CONSOLIDATED GAAP RESULTS (presented in millions, except per share data)
A comparison of results from operations is as follows:

           
  Fourth Quarter     Full Year
    2018   2017     2018   2017
Net sales   $2,254   $1,957     $7,343   $6,380
Gross margin $1,088   $970 $3,480   $3,024
Operating earnings   $516   $503     $1,255   $1,284
Amounts attributable to Motorola Solutions, Inc. common stockholders
Net earnings (loss) 423 (575) 966 (155)
Diluted EPS $2.44 ($3.56) $5.62 ($0.95)
Weighted average diluted common shares outstanding   173.4   161.7     172.0   162.9

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