Motorola Solutions recognizes importance of TETRA Interop field trial with police in Belgium, the Netherlands and Germany
The company recognizes the TETRA Interop field trial, the new ST7000 TETRA radio, the WAVE™ 7000 system and its partnership with Singapore Technologies Electronics as key, during the presentation of its earnings results for Q2 of 2016.
Greg Brown, chairman and CEO of Motorola Solutions said: "Q2 was a strong quarter demonstrated by our growth in earnings, cash flow and backlog. I am pleased with our progress heading into the second half of the year."
The company also announced that its board of directors has approved a $2 billion increase to the share repurchase program, raising the total authorization since July 2011 to $14 billion. Under the company’s previously authorized $12 billion share repurchase program, approximately $400 million remained at the end of the second quarter of 2016. The company may continue to repurchase shares from time to time in the open market or in other privately negotiated transactions, subject to market conditions.
KEY HIGHLIGHTS
Strategic sales
- $200 million award for a multi-county, P25 ASTRO system in the Richmond, Virginia, region
- $44 million contract for P25 ASTRO system and subscribers with a large U.S. utility
- $19 million service extension with an Australian customer
Innovation and investments in growth
- Introduced WAVE™ 7000 system that enhances work group communications with a redundant, high-availability push-to-talk capability that links millions of users regardless of device
- Facilitated TETRA Interop field trial with police in Belgium, the Netherlands and Germany to test cross-border, multi-network interoperability
- Introduced ST7000 small TETRA radio with high-quality audio and a touch screen that appeals to customer-facing staff and executives
- Announced partnership with Singapore Technologies Electronics to accelerate development of specialized technologies for high-security, mission-critical broadband, cybersecurity solutions and purpose-built applications
- Received unconditional clearance for acquisition of Airwave from the United Kingdom’s Competition and Markets Authority
BUSINESS OUTLOOK
- Third-quarter 2016 - Motorola Solutions expects a revenue increase of 6 to 7 percent compared with the third quarter of 2015, which assumes approximately $130 million in revenues associated with the Airwave acquisition. The company expects non-GAAP earnings per share from continuing operations in the range of $1.17 to $1.22 per share.
- Full-year 2016 - The company continues to expect revenue to increase 5 to 7 percent and non-GAAP earnings per share from continuing operations in the range of $4.45 to $4.65 per share.