Motorola Solutions reports healthy performance in government and enterprise segments in Q3

Motorola Solutions today announced its third-quarter 2011 results highlighted by sales of US$2.1 billion, up 10 per cent from the third quarter of 2010 and driven by solid demand in all regions across both its government and enterprise segments.

GAAP operating earnings in Q311 were US$253 million or 12 per cent of sales, compared to US$211 million or 11 per cent of sales in the same quarter the previous year.

Non-GAAP operating earnings in Q311 were US$358 million or 17 per cent of sales, compared to US$289 million or 15 per cent of sales a year earlier.

Government segment sales were US$1.4 billion, up nine per cent from the year-ago quarter. GAAP operating earnings were US$185 million or 13 per cent of sales compared to US$159 million or 13 per cent of sales in the year-ago quarter. Non-GAAP operating earnings were US$223 million or 16 per cent of sales compared to US$175 million or 14 per cent of sales in the year-ago quarter.

Enterprise segment sales wereUS$726 million, up 13 per cent from the year-ago quarter. GAAP operating earnings were US$68 million or nine per cent of sales compared to US$52 million or eight per cent of sales in the year-ago quarter. Non-GAAP operating earnings were US$135 million or 19 per cent of sales compared to US$114 million or 18 per cent of sales in the year-ago quarter.

“Our customers continue to invest in solutions that increase revenues and improve operating efficiency,” said Greg Brown, chairman and CEO of Motorola Solutions. “In addition to our robust growth this quarter, we returned significant capital to shareholders. We repurchased US$744 million of stock, initiated our dividend and generated very strong operating cash flow.”

Motorola Solutions has raised its expected full-year revenue outlook to approximately seven per cent growth with operating earnings of approximately 16.5 per cent of sales. Fourth-quarter sales are expected to grow between two and three per cent compared with the fourth quarter of 2010 and approximately seven per cent compared with the third quarter of 2011.