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

Record 2017 sales, cash flow and backlog supported by strong fourth-quarter results

  • Revenue of $2 billion, up 4 percent from year ago; up 6 percent for full year
  • Organic1 revenue growth of 2 percent; 3 percent for full year
  • Record backlog of $9.6 billion, up $1.2 billion or 15 percent from a year ago
  • GAAP earnings per share (EPS) of ($3.56); ($0.95) for full year, on charges related to tax reform2
  • Non-GAAP EPS* of $2.10, up 3 percent; $5.46 for full year, up 11 percent
  • Generated $761 million in operating cash flow; $1.3 billion for full year

CHICAGO — (BUSINESS WIRE) — February 1, 2018Motorola Solutions, Inc. (NYSE: MSI) today reported its earnings results for the fourth quarter and full year of 2017. Click here for a printable news release and financial tables.

“We finished the year with a very strong fourth quarter, capping a record year for revenue, operating earnings, cash flow and backlog driven by continued organic growth on strength in land-mobile radio (LMR) solutions," said Greg Brown, chairman and CEO of Motorola Solutions. “We are poised for continued growth in LMR and software and services."

 

KEY FINANCIAL RESULTS (presented in millions, except per share data and percentages)

 
  Fourth Quarter   Full Year
    2017   2016   % Change   2017   2016   % Change
Sales   $1,957   $1,883   4%   $6,380   $6,038   6%
GAAP        
Operating earnings $511 $403 27% $1,282 $1,067 20%
% of Sales 26.1% 21.4% 20.1% 17.7%
EPS from continuing operations   $(3.56)   $1.43   N/M**   $(0.95)   $3.24   N/M
Non-GAAP
Operating earnings $576 $541 6% $1,552 $1,427 9%
% of Sales 29.4% 28.7% 24.3% 23.6%
EPS from continuing operations   $2.10   $2.03   3%   $5.46   $4.92   11%
Product Segment
Sales $1,233 $1,226 1% $3,772 $3,649 3%
GAAP Operating earnings $404 $330 22% $914 $734 25%
% of Sales 32.8% 26.9% 24.2% 20.1%
Non-GAAP Operating earnings $425 $407 4% $1,006 $910 11%
% of Sales   34.5%   33.2%       26.7%   24.9%    
Services Segment
Sales $724 $657 10% $2,608 $2,389 9%
GAAP Operating earnings $107 $73 47% $368 $333 11%
% of Sales 14.8% 11.1% 14.1% 13.9%
Non-GAAP Operating earnings $151 $134 13% $546 $517 6%
% of Sales   20.9%   20.4%       20.9%   21.6%    
 

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