Press Release: Motorola Solutions Reports -9-
· 02/04/2021 16:10
CONTACT: MEDIA CONTACTexpenses 29 21 8 Reorganization of business charges 14 11 3 Hytera-related legal expenses 7 7 - Pelco purchase accounting adjustment 4 4 - Acquisition-related transaction fees 1 1 - ----- --- ------ ----- ------ --- Total above-OE non-GAAP adjustments 112 57 55 --------------------- ----- --- ------ ----- ------ --- Operating earnings after non-GAAP adjustments $ 667 $ 408 $ 259 --------------------- ----- --- ------ ----- ------ --- Operating earnings as a percentage of net sales - GAAP 24.4% 23.2% 26.7% Operating earnings as a percentage of net sales - after non-GAAP adjustments 29.3% 27.0% 33.9% ----- --- ------ ---- ------ FY 2020 ---------------------------------------------------------------------- Products and Systems Software and TOTAL Integration Services -------------------- ---------- ------------------ --------------- Net sales $7,414 $ 4,634 $ 2,780 Operating earnings ("OE") $1,383 $ 656 $ 727 --------------------- ----- --- ------ ----- ------ --- Above-OE non-GAAP adjustments: Intangibles amortization expense 215 49 166 Share-based compensation expenses 129 92 37 Reorganization of business charges 86 68 18 Hytera-related legal expenses 42 42 - Legal settlements 9 9 - Acquisition-related transaction fees 9 4 5 Fixed asset impairment 5 3 2 Pelco purchase accounting adjustment 7 7 - Gain on sale of property, plant, and equipment (50) (50) - ----- --- ------ ---- ------ --- Total above-OE non-GAAP adjustments 452 224 228 --------------------- ----- --- ------ ----- ------ --- Operating earnings after non-GAAP adjustments $1,835 $ 880 $ 955 --------------------- ----- --- ------ ----- ------ --- Operating earnings as a percentage of net sales - GAAP 18.7% 14.2% 26.2% Operating earnings as a percentage of net sales - after non-GAAP adjustments 24.8% 19.0% 34.3% ----- --- ------ ---- ------ Non-GAAP-4 Motorola Solutions, Inc. and Subsidiaries Non-GAAP Organic Revenue (In millions) Total Motorola Solutions ------------------------------------------------------------------------ Three Months Ended ------------------------------------------------------------------------ December 31, 2020 December 31, 2019 % Change --------------- ------------------- ------------------- ------------ Net sales $ 2,273 $ 2,377 (4)% ---------------- --- -------------- --- -------------- Non-GAAP adjustments: Sales from acquisitions 60 0 ---------------- --- -------------- --- -------------- ----- ----- Organic revenue $ 2,213 $ 2,377 (7)% ---------------- --- -------------- --- -------------- ----- --- Year Ended ------------------------------------------------------------------------ December 31, 2020 December 31, 2019 % Change --------------- ------------------- ------------------- ------------ Net sales $ 7,414 $ 7,887 (6)% ---------------- --- -------------- --- -------------- Non-GAAP adjustments: Sales from acquisitions 291 88 ---------------- --- -------------- --- -------------- ----- ----- Organic revenue $ 7,123 $ 7,799 (9)% ---------------- --- -------------- --- -------------- ----- ---
View source version on businesswire.com: https://www.businesswire.com/news/home/20210204006077/en/
Alexandra Reynolds
Motorola Solutions
+1 312-965-3968
Alexandra.Reynolds@motorolasolutions.com
INVESTOR CONTACT
Tim Yocum
Motorola Solutions
+1 847-576-6899
Tim.Yocum@motorolasolutions.com
(END) Dow Jones Newswires
February 04, 2021 16:10 ET (21:10 GMT)