Summary
Motorola Solutions, Inc. (MSI) reported its fiscal year 2015 results in this 10-K filing. The company, a leader in mission-critical communication infrastructure, devices, software, and services for government and public safety sectors, generated $5.7 billion in net sales. The business is structured into two main segments: Products ($3.7 billion in sales) and Services ($2.0 billion in sales). A significant positive development was the return to operating profitability in 2015, with operating earnings of $1 billion, a substantial improvement from the operating loss reported in 2014, which was heavily impacted by a large pension settlement charge. The company also reported strong cash flow from operations of $1.0 billion. MSI demonstrated a commitment to returning capital to shareholders, repurchasing $3.2 billion of its stock and paying $277 million in dividends in 2015. The company ended the year with a record backlog of $6.5 billion, indicating a solid pipeline of future business. Strategic focus areas include continued innovation in core products, expansion of services (particularly Managed & Support services), and investment in next-generation public safety solutions like LTE. The recent acquisition of Airwave Solutions Limited post-year-end further supports the growth strategy in the Services segment.
Financial Highlights
56 data points| Revenue | $5.70B |
| Cost of Revenue | $2.98B |
| Gross Profit | $2.72B |
| R&D Expenses | $620.00M |
| SG&A Expenses | $1.02B |
| Operating Income | $994.00M |
| Interest Expense | $186.00M |
| Net Income | $610.00M |
| EPS (Basic) | $3.06 |
| EPS (Diluted) | $3.02 |
| Shares Outstanding (Basic) | 199.60M |
| Shares Outstanding (Diluted) | 201.80M |
Key Highlights
- 1Motorola Solutions reported net sales of $5.7 billion for fiscal year 2015, with $3.7 billion from the Products segment and $2.0 billion from the Services segment.
- 2The company achieved operating earnings of $1.0 billion in 2015, a significant turnaround from an operating loss of $1.0 billion in 2014, which included a large pension settlement charge.
- 3Cash provided by operating activities was strong at $1.0 billion for 2015, compared to cash used of $685 million in 2014.
- 4Motorola Solutions returned $3.5 billion to shareholders in 2015 through $3.2 billion in share repurchases and $277 million in dividends.
- 5The company ended 2015 with a record backlog of $6.5 billion, up 12% from the prior year.
- 6Significant investments were made in R&D ($620 million), focusing on new public safety devices, infrastructure, and LTE solutions.
- 7The company announced the acquisition of Airwave Solutions Limited in February 2016, strengthening its global Managed & Support services offerings.