Motorola Solutions closes solid quarter

Motorola Solutions Inc. (MSI) reported a 6% jump in sales from the year-ago period, reaching $2.05 million in revenue. The company ended the recently closed second quarter with $170 million in net profit, also up 6% from a year ago.
Comprising almost 64% of its business activity overall, Motorola’s government business generated $111 million in profit $1.3 billion in revenue. While government-related revenue was up 4% from the previous year, profit slipped 5% in the same period.
The enterprise sector grew 11% year-over-year to $747 million. Profits from enterprise customers jumped 34% in the year to $59 million. The company once again noted the better-than-expected growth it has seen in retail.
Earlier this month at its headquarters, Motorola Solutions announced plans to expand its services and applications for the enterprise and government sectors. It also provided more details about its plans for growth in public safety and enterprise.
The company ended the quarter with $6.7 billion in cash, announced a 22 cents per share dividend that will record on Sept. 15 and plans to repurchase up to $2 billion in stock through the end of next year.
“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,” CEO and Chairman Greg Brown said in a prepared statement.