Motorola Solutions forecasts results below estimates

what communication device did samuel morse inventSo to carry on my run of articles on this blog, Ive planned to share one of our favorite articles this week. I used to be hesitant to include it to this site as I really did not wish to offend the initial writer, but I hope he/she is glad that I loved reading their work and planned to share it with my readers.

Motorola Solutions Inc, which makes Kenwood two way radios, rugged mobilecomputers 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/S
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. Thebusiness, which includes the U.S. government as its largest customer, provides land-mobile-radio systems, walkie-talkies and sells video surveillance systems.
Sales in itsbusinessfell 4 percent due to lower demand for iDEN wireless communication products.
Motorola will be retaining its iDEN products portfolio after it sells its enterprisebusinessto 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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