Motorola Solutions Says Profits and Sales Fell in Latest Quarter

   By Micah Maidenberg

Motorola Solutions Inc. (MSI) said third-quarter profits totaled $294 million, or $1.43 a share, but margins at the communications equipment company were hampered by higher costs related to an acquisition and an environmental reserve fund.

Profits were fell 15% versus the year-ago period. Analysts polled by FactSet expected $1.42 a share for the period. On an adjusted basis, the company said Thursday it earned $1.94 a share, compared to the $1.71 a share analysts forecasted.

Sales rose 13% to $1.86 billion in the third quarter, beating expectations of $1.87 billion.

Motorola Solutions increased its full-year profit forecast, saying Thursday it now expects per-share adjusted profits of $7.00 to $7.05, up from the prior guidance of $6.79 to $6.89. The company continues to expect year-over-year revenue growth of 14.5%.

Write to Micah Maidenberg at micah.maidenberg@wsj.com

(END) Dow Jones Newswires

November 01, 2018 16:33 ET (20:33 GMT)

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