Motorola Solutions Reports Third-Quarter 2017 Financial Results

Company raises full-year revenue and earnings outlook

  • Sales of $1.6 billion, up 7 percent from a year ago
  • Organic revenue1 growth of 5 percent; North America organic growth of 5 percent
  • Record backlog of $8.9 billion, up $768 million, or 9 percent
  • GAAP earnings per share (EPS) of $1.25, up 11 percent
  • Non-GAAP EPS 2 of $1.53, up 12 percent
  • Increasing quarterly dividend by 11 percent

CHICAGO — (BUSINESS WIRE) — November 2, 2017Motorola Solutions, Inc. (NYSE: MSI) today reported its earnings results for the third quarter of 2017. 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 11 percent to 52 cents per share. The next quarterly dividend will be payable in cash on Jan. 12, 2018, to stockholders of record at the close of business on Dec. 15, 2017.

“Q3 was another outstanding quarter of revenue and earnings growth,” said Greg Brown, chairman and CEO of Motorola Solutions. “I’m particularly pleased with our record backlog position, demonstrating continued strength of our Land Mobile Radio (LMR) business.”

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

      Q3 2017     Q3 2016     % Change
Sales     $1,645     $1,532     7 %
GAAP            
Operating Earnings $338 $341 (1 )%
% of Sales 20.5 % 22.3 %
EPS     $1.25     $1.13     11 %
Non-GAAP
Operating Earnings $423 $396 7 %
% of Sales 25.7 % 25.8 %
EPS     $1.53     $1.37     12 %
Product Segment
Sales $989 $920 8 %
GAAP Operating Earnings $253 $225 12 %
% of Sales 25.6 % 24.5 %
Non-GAAP Operating Earnings $287 $243 18 %
% of Sales     29.0 %     26.4 %      
Services Segment
Sales $656 $612 7 %
GAAP Operating Earnings $85 $116 (27 )%
% of Sales 13.0 % 19.0 %
Non-GAAP Operating Earnings $136 $153 (11 )%
% of Sales     20.7 %     25.0 %      

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