Motorola Solutions Q4 Profit Slips - Quick Facts

(RTTNews) - Motorola Solutions Inc. (MSI) posted lower fourth-quarter 2014 GAAP net earnings of $201 million, or $0.87 per share, compared with $343 million, or $1.31 per share, a year ago. For the recent quarter, non-GAAP earnings per share from continuing operations of $1.25 were driven by North America sales growth and lower overall operating expenses.

Fourth-quarter 2014 sales of $1.82 billion were flat, including $27 million of unfavorable foreign currency impact, primarily reflecting growth in North America. Three-month product sales went up by 3 percent driven mainly by an improvement in devices, while Services dropped 5 percent driven by lower iDEN and system integration sales.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.12 per share and revenues of $1.78 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the first quarter of 2015, Motorola Solutions expects a revenue decline of 2 to 4 percent compared with the first quarter of 2014, and sees non-GAAP earnings per share from continuing operations of $0.22 to $0.27 per share.

For full year 2015, revenue is anticipated to be flat to down 2 percent compared with 2014. This assumes a $160 million unfavorable currency impact, translating to revenue growth of 1 to 3 percent in constant currency. The company's forecast assumes growth in North America, contraction in Europe and a decline in iDEN revenues. The company expects non-GAAP earnings per share from continuing operations in the range of $3.15 to $3.35 per share. Analysts expect earnings of $3.35 per share for 2015.