Motorola Solutions Inc. posted higher revenues in the fourth quarter of 2017 and a $575 million net loss, or $3.56 diluted loss per share, on a GAAP basis, which includes an $874 million charge related to the new U.S. tax law.
By comparison, the company reported a $243 million net profit, or $1.43 diluted EPS, in the fourth quarter of 2016.
Fourth-quarter net revenues stood at $1.96 billion, up 4% from $1.88 billion in the year-ago period, on the back of strong growth in the Americas region and the services segment.
Operating earnings improved to $511 million, up 27% from $403 million in the year-ago quarter, mainly due to increased revenues.
For the full year 2017, the company registered a $155 million net loss, or 95 cents diluted loss per share, compared with a $560 million net profit, or $3.24 diluted EPS, in the previous year.
Revenues for full-year 2017 grew 6% to $6.38 billion from $6.04 billion due to strong organic growth in land-mobile radio, or LMR, solutions.
Motorola Solutions expects revenues to grow approximately 7% in the first quarter of 2018 from the year-ago period, and approximately 5% in the full year 2018 from the previous year.
The company forecasts non-GAAP EPS in the range of 83 cents to 88 cents in the first quarter of 2018, compared with $2.10 in the fourth quarter of 2017; and non-GAAP EPS in the range of $6.50 to $6.65 in the full year 2018, compared with $5.46 in the full year 2017.
"We are poised for continued growth in LMR and software and services," said Greg Brown, chairman and CEO of Motorola Solutions.
