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

Record Q4 and 2018 revenue, earnings per share and ending backlog

  • Revenue of $2.3 billion, up 15 percent from Q4 in the prior year; up 15 percent for full year
  • Backlog of $10.6 billion, up $988 million or 10 percent from a year ago
  • Operating cash flow of $812 million, up $51 million from Q4 in the prior year
  • GAAP earnings (loss) per share (EPS) of $2.44, up from ($3.56); $5.62 for full year, up from ($0.95)
  • Non-GAAP EPS* of $2.63, up 25 percent; $7.15 for full year, up 31 percent

CHICAGO — (BUSINESS WIRE) — February 7, 2019 — Motorola Solutions, Inc. (NYSE: MSI) today reported its earnings results for the fourth quarter and full-year 2018. Click here for a printable news release and financial tables.

“From strong organic revenue growth and cash generation to record EPS and backlog, we delivered an outstanding 2018, capped by an excellent fourth quarter,” said Greg Brown, chairman and CEO, Motorola Solutions.

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

         
    Fourth Quarter   Full Year
    Q4 2018   Q4 2017   % Change   2018   2017   % Change
Sales   $2,254   $1,957   15 %   $7,343   $6,380   15 %
GAAP            
Operating Earnings $516 $503 3 % $1,255 $1,284

(2)

%

% of Sales 22.9 % 25.7 % 17.1 % 20.1 %
EPS   $2.44   ($3.56)   N/M**   $5.62   ($0.95)   N/M
Non-GAAP
Operating Earnings $650 $566 15 % $1,740 $1,506 16 %
% of Sales 28.8 % 28.9 % 23.7 % 23.6 %
EPS   $2.63   $2.10   25 %   $7.15   $5.46   31 %
Products and Systems Integration Segment
Sales $1,670 $1,437 16 % $5,100 $4,513 13 %
GAAP Operating Earnings $405 $416

(3)

%

$854 $969

(12)

%

% of Sales 24.3 % 28.9 % 16.7 % 21.5 %
Non-GAAP Operating Earnings $483 $435 11 % $1,109 $1,026 8 %
% of Sales   28.9 %   30.3 %       21.7 %   22.7 %    
Services and Software Segment
Sales $584 $520 12 % $2,243 $1,867 20 %
GAAP Operating Earnings $111 $87 28 % $401 $315 27 %
% of Sales 19.0 % 16.7 % 17.9 % 16.9 %
Non-GAAP Operating Earnings $167 $131 27 % $631 $480 31 %
% of Sales   28.6 %   25.2 %       28.1 %   25.7 %    

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