Motorola Solutions forecasts results below estimates

So to continue my run of content pieces on this website, I have planned to share one of my favorite posts this week. I was tentative to include it to this blog as I really didn’t wish to offend the original author, but I hope he/she is happy that I loved reading their work and wanted to share it with my readers.

Motorola Solutions Inc, which makes walkie-talkies, rugged mobileácomputers and tablets, forecast weaker-than-expected quarterly results after reporting first-quarter revenue below estimates as orders from government and businesses fell.
The company said it expects second-quarter adjusted profit of 58-64 cents per share. It also forecast a 5-8 percent fall in revenue, implying revenue of $1.94 billion-$2 billion (1.18 billion pounds).
Analysts on average were expecting a profit of 84 cents per share on revenue of $2.05 billion, according to Thomson Reuters I/B/E/Sá
Motorola expects revenue to fall at a low single-digit rate for the full year.
“… We will accelerate ongoing cost actions to improve our competitiveness and operating leverage going forward,” Chief Executive Greg Brown said in a statement on Thursday.
The company said net income fell to $127 million, or 49 cents per share, for the first quarter ended March 29, from $192 million, or 68 cents per share, a year earlier.
Excluding items, the company earned 50 cents per share, in line with analysts’ estimates.
Revenue fell 9 percent to $1.8 billion. Analysts expected sales of $1.82 billion.
Sales in its government unit fell 11 percent to $1.2 billion. Theábusiness, which includes the U.S. government as its largest customer, provides land-mobile-radio systems, The radios and sells video surveillance systems.
Sales in itsábusinessáfell 4 percent due to lower demand for iDEN wireless communication products.
Motorola will be retaining its iDEN products portfolio after it sells its enterpriseábusinessáto barcode printer maker Zebra Technologies Corp for $3.45 billion.
Shares of the company closed at $63.58 on the New York Stock Exchange on Wednesday.

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