UPDATE: Motorola Solutions Posts 22% Rise In Q1 Profit, Issues Weak Forecast

Motorola Solutions

reported a 22% rise in its first-quarter profit and issued a downbeat forecast for the current quarter. Motorola Solutions expects adjusted earnings of $0.66 to $0.71 per share for the current quarter, versus analysts' estimates of $0.86 per share. Motorola Solutions' quarterly profit surged to $192 million, or $0.68 per share, from $157 million, or $0.49 per share, in the year-ago period. Excluding one-time items, its earnings from continuing operations came in at $0.66 per share. Its revenue rose 0.9% to $1.97 billion. Motorola Solutions had earlier expected earnings from continuing operations of $0.62 to $0.67 per share on revenue growth of 4% to 5%. Its gross margin declined to 48.4% from 49.7%. Motorola Solutions shares closed at $61.75 yesterday.