Motorola Solutions Reports First-Quarter 2015 Financial Results

  • 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, 2015Motorola 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%    
 

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