Motorola Solutions Reports Third-Quarter 2016 Financial Results

Announces dividend increase of 15 percent to 47 cents per share

  • Sales of $1.5 billion, up 8 percent from a year ago, including $131 million from Airwave
  • Managed and Support Services up 55 percent; up 5 percent excluding Airwave
  • North America up 4 percent on strength in both Products and Services
  • Operating cash flow of $348 million, up 16 percent
  • GAAP earnings per share (EPS) from continuing operations1 of $1.13, up 79 percent
  • Non-GAAP EPS from continuing operations* of $1.37, up 67 percent

CHICAGO — (BUSINESS WIRE) — November 3, 2016Motorola Solutions, Inc. (NYSE: MSI) today reported its earnings results for the third quarter of 2016. Click here for a printable news release and financial tables.

The company also today announced that its board of directors has increased its regular quarterly dividend by 15 percent to 47 cents per share. The next quarterly dividend will be payable in cash on Jan. 13, 2017, to stockholders of record at the close of business on Dec. 15, 2016.

“Q3 was an excellent quarter,” said Greg Brown, chairman and CEO of Motorola Solutions. “I’m pleased with our revenue growth and continued strong performance in earnings and cash flow generation.”

 

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

                   
      Q3 2016     Q3 2015     % Change
Sales     $1,532     $1,422     8 %
GAAP            
Operating Earnings $341 $231 48 %
% of Sales 22.3% 16.2%
EPS from continuing operations     $1.13     $0.63     79 %
Non-GAAP
Operating Earnings $396 $292 36 %
% of Sales 25.8% 20.5%
EPS from continuing operations     $1.37     $0.82     67 %
Products Segment
Sales $920 $925 (1 )%
GAAP Operating Earnings $225 $178 26 %
% of Sales 24.5% 19.2%
Non-GAAP Operating Earnings $243 $221 10 %
% of Sales     26.4%     23.9%      
Services Segment
Sales $612 $497 23 %
GAAP Operating Earnings $116 $53 119 %
% of Sales 19.0% 10.7%
Non-GAAP Operating Earnings $153 $71 115 %
% of Sales     25.0%     14.3%      
   

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