Motorola Solutions Reports Fourth-Quarter and Full-Year 2014 Financial Results

Innovation and Product Growth

  • Expanded Public Safety LTE portfolio with LEX L10 mission-critical handheld device, which comes equipped with Motorola Solutions’ new Public Safety Experience that provides first responders with the right information at their fingertips
  • Introduced ASTRO 25 Cloud Core Managed Service offering, which enables public safety agencies to access the latest Project 25 land mobile radio technology as well as provide a communications platform for long-term growth and new capabilities
  • Expanded MOTOTRBO™ digital portable radio portfolio with slim, lightweight SL300 and SL1600 models ideal for everyday use in industries such as education, retail, hospitality, event management and private security

BUSINESS OUTLOOK***

  • First quarter 2015 – Motorola Solutions expects a revenue decline of 2 to 4 percent compared with the first quarter of 2014. This assumes a $40 million**** unfavorable currency impact, which translates to revenue growth of -1 to 1 percent in constant currency. The company’s outlook assumes growth in North America, contraction in Europe and a decline in iDEN revenues. The company expects non-GAAP earnings per share from continuing operations in the range of $0.22 to $0.27 per share.
  • Full-year 2015 – The company expects revenue to be flat to down 2 percent compared to 2014. This assumes a $160 million**** unfavorable currency impact, which translates to revenue growth of 1 to 3 percent in constant currency. The company’s outlook assumes growth in North America, contraction in Europe and a decline in iDEN revenues. The company expects non-GAAP earnings per share from continuing operations in the range of $3.15 to $3.35 per share.

****Based on currency rates as of Feb. 2, 2015.

CONFERENCE CALL AND WEBCAST

Motorola Solutions will host its quarterly conference call beginning at 7 a.m. U.S. Central Standard Time (8 a.m. U.S. Eastern Standard Time) Wednesday, Feb. 4. The conference call will be webcast live with audio and slides at www.motorolasolutions.com/investor.

CONSOLIDATED GAAP RESULTS

A comparison of results from operations is as follows:

         
   

Fourth Quarter

 

Full Year

   

2014

 

2013

 

2014

 

2013

Net sales ($M)   $1,823   $1,817   $5,881   $6,227
Gross margin ($M)   912   901   2,831   3,109
Operating earnings (loss) ($M)   -1,459   325   -1,006   947
Earnings (loss) from continuing operations ($M)   -926   293   -696   939
Net earnings ($M)   201   343   1,299   1,099
                 
Diluted EPS from continuing operations   -$4.02   $1.12   -$2.84   $3.45
                 
Weighted average diluted common shares outstanding   230.5   261.2   245.6   270.5
       

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