Boston, MA 10/24/2013 (wallstreetpr) – Motorola Solutions Inc (NYSE:MSI) provides mission-critical communication infrastructure, devices, software, and services.
Motorola solutions have shown a growth in terms of revenue and were able to maintain their profitability, as the business has shown a growth after seven quarters. The growth in the revenue and better profitability took the stock to a six year high in its stock price. Despite the decline in sales from the government, which is considered to be one of the key business segments for the company, it has reported a strong set of numbers.
The company stock price raised by 3% to $62.27 in the early morning trade. It was because there was a growth of 2% in its data capture and security products at the same time there was fall of 4% in its government business as it amounts to 70% of the company’s total business.
In the case of the revenue, the company has to face a decline of 2% in the revenue, which came down to $2.11 billion but net income reported growth up to $307 million.
The company is in planning to separate its loss-making unit, which is known as a wireless LAN business. The company wants to give importance to its core business, which is government and public safety divisions, as this unit has struggled amid its competition.
After the approval made by the board of directors, the company announces its quarterly dividend. The amount of dividend will be $0.30 per share which will be paid in cash as on Jan. 15, 2014.
The ruling person of the Motorola solutions has been changed as the company announces a new name of Gino A Bonanotte, who will be acting chief financial officer as the company is planning to hire a permanent CFO, for which it has started the process and the company is expecting to close this procedure by 2013.
