Summary
Motorola Solutions, Inc. reported strong performance for the first quarter of 2011, with net sales increasing by 8% year-over-year to $1.9 billion. This growth was driven by a 14% increase in the Enterprise segment and a 5% increase in the Government segment. Operating earnings saw a significant improvement, rising to $170 million from $120 million in the prior year, leading to an improved operating margin of 9.0%.
Financial Highlights
54 data pointsBeta
Financial Statements
Beta
| Revenue | $1.83B |
| Cost of Revenue | $910.00M |
| Gross Profit | $924.00M |
| R&D Expenses | $239.00M |
| SG&A Expenses | $461.00M |
| Operating Income | $169.00M |
| Interest Expense | $34.00M |
| Net Income | $497.00M |
| EPS (Basic) | $1.47 |
| EPS (Diluted) | $1.44 |
| Shares Outstanding (Basic) | 337.40M |
| Shares Outstanding (Diluted) | 344.20M |
Key Highlights
- 1Net sales increased 8% to $1.9 billion, driven by growth in both Enterprise (+14%) and Government (+5%) segments.
- 2Operating earnings grew to $170 million, with operating margin expanding to 9.0% from 6.9% in the prior year.
- 3Earnings from continuing operations were $365 million, or $1.06 per diluted share, a substantial increase from $97 million, or $0.29 per diluted share, in Q1 2010.
- 4A significant tax benefit of $244 million from the reversal of a valuation allowance on U.S. deferred tax assets contributed to the net earnings increase.
- 5Cash flow from operations improved significantly, reaching $231 million compared to $59 million in the prior year.
- 6The company completed the sale of its Networks business to Nokia Siemens Networks on April 29, 2011, and continues to focus on mission-critical communication solutions.
- 7The company terminated its previous credit facility and entered into a new $1.5 billion unsecured syndicated revolving credit facility maturing in June 2014.