Motorola Expects 6-8% Decline In Q4 Revenue

(RTTNews) - Communication equipment maker Motorola Solutions (MSI) Wednesday reported an decline in third quarter net earnings, while revenue were slightly down from the prior year. Looking ahead to the fourth quarter, the company expects a decline in revenue by 6 to 8 percent, compared to the prior year. On an adjusted basis, earnings from continuing operations for the fourth quarter is projected in a range of $1.45 to $1.50 per share.

For the fourth quarter, Wall Street expects $1.57 per share on revenue of $1.81 billion.

For the third quarter, the company reported a net earnings attributable to the company of $115 million, down from $147 million last year. On a per share basis, earnings were $0.57, slightly down from $0.59 a year ago. On a continuing operations basis, earnings surged 133 percent to $0.63 per share from $0.27 per share last year.

On average, 12 analysts polled by Thomson Reuters expect the company to earn $0.73 per share. Analysts estimates usually exclude special items.

Net sales for the quarter edged down to $1.422 billion from $1.436 billion last year. On a constant currency basis, revenue grew 3 percent. Wall Street was looking for $1.41 billion.