Motorola Solutions Q4 profits down 2% to US$413 million

Motorola Solutions has reported that its fourth quarter revenues were up by three per cent compared to a year ago, but that its full-year sales were flat compared to the previous year due to weaker performance in 2013.

For the fourth quarter, Government sales were up four per cent and Enterprise sales were up slightly. Backlog ended the year at a record US$6.2 billion, primarily driven by large multi-year projects in Government.

Profits for the quarter were down by two per cent at US$413 million on revenues of US$2.5 billion.

"I’m pleased with the way we finished the year," said Greg Brown, chairman and CEO of Motorola Solutions. "In Q4, we had revenue growth in both our Government and Enterprise businesses. We also had strong cash generation, expanded operating margin, grew backlog in both businesses, and continued to return capital to shareholders."

During Q4, the company generated US$741 million in operating cash flow from continuing operations. The company ended the year with total cash of US$3.2 billion while returning US$442 million to shareholders.

Motorola Solutions’ outlook for the first quarter of 2014 is for revenue decline of four to six per cent compared with the first quarter of 2013.