Motorola Solutions Expects $1.8 Bln Of Sales In Q1 - Quick Facts

(RTTNews) - Motorola Solutions Inc. (MSI), in its preliminary results announcement, said it expects first-quarter 2014 sales to be nearly $1.8 billion, a decline of nearly 9% from last year.

For the first quarter, GAAP operating earnings are projected to be $170 million or 9.4 percent of sales, GAAP earnings per share to be $0.49, non-GAAP operating earnings to be $212 million or 11.8 percent of sales, and non-GAAP earnings per share to be $0.50.

The company said its sales results were below its prior revenue outlook, due mainly to softer demand in the North America Government business coupled with lower than expected Enterprise sales. Non-GAAP earnings per share were within the range of the company's prior earnings view.

Looking ahead, full-year total company 2014 sales are now expected to decline low single digits, while operating margins are likely to be comparable to its earlier guidance. This annual sales forecast assumes Enterprise growth and a low- to mid-single digit decline for the combined Government and iDEN business.

Commenting on the results, Motorola Solutions' Chairman and CEO commented: "Revenues in the quarter did not meet our expectations due primarily to lower than expected volumes in our North America Government business in addition to a push out of certain Enterprise orders late in the quarter. While revenues were less than anticipated in the first quarter, we remain confident that we are well positioned for long-term profitable growth based on our strong pipeline position."

Motorola Solutions would provide full earnings results on its call, now slated for May 1.