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October 27, 2011 4:21 pm
Motorola Solutions, which provides telecommunications equipment, reported stronger-than-expected third quarter sales and profits and raised its full-year outlook, thanks to strong demand from companies for mobile computing and wireless networking equipment.
Excluding stock-based compensation and certain other items, adjusted earnings per-share from continuing operations increased to 65 cents from 54 cents. Gross margin dipped slightly to 50.4 per cent from 50.5 per cent.
Sales increased by 10 per cent to $2.1bn, boosted by particularly strong growth in Asia and Latin America. Product sales increased by 9.6 per cent, while service revenue rose 5.7 per cent. Government sales increased 8.8%, and the enterprise business posted a 13% jump.
The company, which provides telecommunications equipment, such as two-way radios for police and emergency workers, and handheld mobile computers, PC tablets and WiFi equipment to corporate clients including retailers, now expects full year revenue to grow 7 per cent.
Despite the uncertain global economic outlook, Greg Brown, chief executive, said demand for its core products and services remained strong, with sales to enterprise customers in particular growing by double digits in several markets, underpinned by the shift towards mobile computing.
As a result the Schaumburg, Illinois-based company said fourth quarter sales are expected to grow by 2 or 3 per cent and earnings per share from continuing operations will be between 78 cents and 83 cents.
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