Motorola Projects Better-Than-Expected Profit
23 Febbraio 2016 - 12:30AM
Dow Jones News
Motorola Solutions Inc., the remaining fragment of the corporate
icon that commercialized the cellphone, on Monday reported an 8%
revenue decline in its latest quarter, though earnings came in
better than expected and the firm said annual profit would top
market expectations.
The company projects annual profit of $4.45 to $4.65 a share
with sales increasing 5% to 7%, while analysts forecast $3.87 a
share for the year with sales improving 0.2%. For the current
quarter, Motorola expects 37 cents to 42 cents a share of earnings
as sales fall 4% to 6%, compared with analysts' views for 43 cents
a share in profit and sales declining 2.5%.
Motorola's forecasts include the projected impact of its Airwave
Solutions acquisition, as Motorola Solutions continues to build its
public-safety operations, which already account for about
two-thirds of its business.
Shares, down 4% over the past 12 months, rose 2.4% after
hours.
Over all for its latest quarter, Motorola Solutions reported a
profit of $279 million, or $1.57 a share, compared with $201
million, or 87 cents a share, a year earlier. Excluding
reorganization charges and other items, profit from continuing
operations rose to $1.58 a share from $1.25 a year earlier. Revenue
fell 8% to $1.68 billion.
Motorola Solutions had projected adjusted profit of $1.45 to
$1.50 a share with revenue declining 6% to 8%.
Gross margin narrowed to 49.8% from 50% a year earlier.
Results in the latest period reflect a 1% revenue decline in
North America, or flat when adjusted for currency fluctuations, and
continued weakness in its Latin America and Europe operations.
North America, which in recent quarters had helped offset
declines in other regions, accounts for more than half of
sales.
Anne Steele contributed to this article
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
February 22, 2016 18:15 ET (23:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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