Motorola Solutions Reports Second-Quarter Results
Government segment sales were $1.3 billion, up 4 percent from the year-ago quarter
Motorola Solutions, Inc.
(NYSE: MSI) announced yesterday its second-quarter 2011 results highlighted
by sales of $2.1 billion, up 6 percent from the second quarter of 2010
and driven by solid demand across both its Government and Enterprise
segments.
In addition, the company announced that its board
of directors has authorized the initiation of a regular quarterly
dividend of $0.22 per outstanding share of the company’s common stock.
The first dividend will be payable on Oct. 14, 2011, to shareholders of
record at the close of business on Sept. 15, 2011. As part of a broader
return of capital plan, the company’s board has authorized a share
repurchase program of up to $2.0 billion through the end of 2012. The
company may repurchase shares from time to time in the open market or in
other privately negotiated transactions, subject to market conditions.
Greg Brown, chairman and CEO of Motorola Solutions, said: ”Our solid revenue growth and improved operating leverage further demonstrate the strength of our business. Based on this performance, we have raised our full year outlook. Additionally, the dividend and share repurchase program reinforce our commitment to return capital to shareholders while maintaining strategic flexibility.”
GAAP operating earnings in the second quarter of 2011 were $170 million or 8 percent of sales, compared to $161 million or 8 percent of sales in the second quarter of 2010. GAAP earnings per share from continuing operations** were $0.17, compared to $0.01 in the second quarter of 2010.
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Source: www.motorolasolutions.com
