Sector: Technology|Industry: Communication Equipment|Market Cap: $77.32B|Employees: 21K
Motorola Solutions is a global leader in public safety and enterprise security, providing communication, video security, and command center solutions. The company's core business model revolves around designing and advancing technology for over 100,000 customers across 100 countries. Motorola Solutions' competitive advantage lies in its nearly 100 years of customer collaboration and its integrated ecosystem of safety and security technologies, including Land Mobile Radio Communications, Video Security and Access Control, and Command Center solutions. They operate across various markets, including public safety, government, and commercial enterprises worldwide.
Net sales increased by 10% year-over-year, reaching $2.389 billion, with the Products and Systems Integration segment contributing a 14% increase, while Software and Services grew by 4%. This growth was partially offset by a decrease in LMR services due to the Charge Control.
The company reported a net loss of $39 million, or $(0.23) per diluted share, compared to a net income of $278 million in the prior year. This was primarily due to a $585 million loss from the extinguishment of the Silver Lake Convertible Debt.
Operating earnings increased by 30% year-over-year, reaching $519 million, driven by higher sales and favorable mix in the Products and Systems Integration segment, partially offset by lower revenue in the Software and Services segment due to the Charge Control.