Motorola Solutions reports third-quarter 2020 financial results

Motorola Solutions, Inc. (NYSE: MSI) today reported its earnings results for the third quarter of 2020. Click here for a printable news release and financial tables.

“I’m really proud of the way our team continues to perform in this challenging environment, and I’m pleased with our Q3 results highlighted by the growth in software & services and video security,” said Greg Brown, chairman and CEO, Motorola Solutions. “I’m encouraged by the momentum of our business, and our continued focus on customers and execution positions us well going forward.”

Financial Highlights

• Revenue of $1.9 billion, down 6% versus a year ago
• Software and Services segment grew 9% and expanded operating margins by 220 bps
• GAAP earnings per share (EPS) of $1.18
• Non-GAAP EPS* of $1.95
• Generated $392 million of operating cash flow and $343 million of free cash flow
• Awarded $120M+ next generation 911 multi-year contract, the largest command center software order in company's history

Commercial Highlights

Software and Services

• $120 million+ next generation 911 multi-year contract
• $19 million, body-worn and in-car video multi-year aaS contract in North America
• $18 million P25 statewide multi-year services contract with Seminole County, FL
  Strong body-worn camera unit orders
• Launched PremierOne Cloud suite
• Acquired Callyo, a cloud-based SaaS mobile applications provider for law enforcement

Products and Systems Integration

• $44 million P25 order with large U.S. Federal customer
• $28 million P25 order for State of Wyoming
• $20 million P25 order for State of North Carolina
• $19 million TETRA order for a large international transportation customer
• Strong growth in fixed video sales to government customers