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Motorola Solutions profit misses consensus by 29.4% in fiscal Q1

Motorola Solutions Inc. said its normalized net income for the fiscal first quarter ended April 1 was 41 cents per share, compared with the S&P Capital IQ consensus estimate of 57 cents per share.

EPS increased 29.2% year over year from 31 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $69.0 million, a gain of 24.0% from $55.6 million in the year-earlier period.

The normalized profit margin rose to 5.4% from 4.7% in the year-earlier period.

Total revenue rose 7.4% year over year to $1.28 billion from $1.19 billion, and total operating expenses rose 5.0% on an annual basis to $1.11 billion from $1.06 billion.

Reported net income increased 331.9% year over year to $76.5 million, or 45 cents per share, from $17.7 million, or 10 cents per share.