Motorola Solutions Inc. said its fourth-quarter normalized net income was $1.65 per share, compared with the S&P Capital IQ consensus estimate of $1.85 per share.
EPS rose 23.7% year over year from $1.33.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $280.9 million, an increase of 18.8% from $236.5 million in the year-earlier period.
The normalized profit margin climbed to 14.9% from 14.1% in the year-earlier period.
Total revenue climbed 12.0% year over year to $1.88 billion from $1.68 billion, and total operating expenses climbed 11.4% year over year to $1.39 billion from $1.25 billion.
Reported net income declined 11.4% year over year to $244.2 million, or $1.43 per share, from $275.7 million, or $1.55 per share.
For the year, the company's normalized net income totaled $3.76 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $4.76.
EPS rose from $2.78 in the prior year.
Normalized net income was $651.1 million, an increase from $560.1 million in the prior year.
Full-year total revenue rose on an annual basis to $6.04 billion from $5.70 billion, and total operating expenses increased year over year to $4.79 billion from $4.62 billion.
The company said reported net income decreased year over year to $560.8 million, or $3.24 per share, in the full year, from $639.7 million, or $3.17 per share.
