Motorola Solutions Q1 Profit Declines; Trims 2015 EPS Outlook - Quick Facts

(RTTNews) - Motorola Solutions, Inc. (MSI) reported that its first-quarter net earnings attributable to company decreased to $74 million or $0.34 per share from $127 million or $0.49 per share in the prior-year quarter.

However, earnings from continuing operations for the quarter increased to $87 million or $0.40 per share from $85 million or $0.33 per share in the prior-year quarter.

Adjusted earnings from continuing operations was $0.38 per share for the quarter. On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of $0.25 per share for the quarter. Analysts' estimates typically exclude special items.

Total sales for the quarter edged down to $1.22 billion from $1.23 billion in the same quarter last year. Analysts expected revenue of $1.19 billion for the quarter. Sales include $40 million of unfavorable foreign currency impact.

Looking ahead to the second quarter, the company expects revenue to decline of 3 to 5 percent, and flat to down 2 percent in constant currency from last year. It also projects adjusted earnings from continuing operations in the range of $0.51 to $0.56 per share. Analysts expect the company to report second-quarter earnings of $0.59 per share on a revenue decline of 2.0 percent to $1.37 billion.

For the fiscal 2015, the company continues to expect revenue to be flat to down 2 percent, and growth of 1 to 3 percent in constant currency from 2014. The company now expects adjusted earnings per share from continuing operations in the range of $3.20 to $3.40 per share, up from the prior forecast of $3.15 to $3.35 per share. Street is currently looking for full-year 2015 revenues to edge down 1.2 percent to $5.81 billion.