Motorola Solutions the maker of communications equipment reported profit on Tuesday for its first quarter that dropped from the same period last year despite better operating margins, reflecting a loss from its discontinued operations and a drop in sales.
Both per share adjusted earnings and sales for the quarter topped expectations on Wall Street. The company provided weaker guidance for its second quarter and increased its forecast for earnings for all of 2015, while keeping the same outlook on revenue.
Motorola Solutions, which is the maker of communication devices, software and infrastructure was created during January of 2011, when the company split into two separate public companies. Motorola Mobility, the other entity, was acquired at a later day by Google.
The company reportedly has been working with advisors over the last several months on a possible sale. Other possible buyers included Raytheon, General Dynamics and private equity firms.
Motorola Solutions reported earnings attributable to the business of $74 million equal to 34 cents a share for its first quarter, which was less than the $127 million equal to 49 cents a share of the same period one year ago.
However, earnings from the continuing operations for that quarter were up to $87 million equal to 40 cents a share from last year’s $85 million equal to 33 cents a share.
Excluding certain items its adjusted earnings for its continuing operation for the recently ended quarter were 38 cents a share, compared to 28 cents a share last year, driven in part by lower operating expenses overall.
On averaged Wall Street analysts expected 25 cents a share in earnings for the three-month period, Analysts estimates typically do not included special items.
Net sales for the quarter edged down to end the quarter at $1.22 billion from last year’s $1.23 billion but did top estimates on Wall Street of $1.19 billion. Its sales included an unfavorable currency impact on the strong U.S. dollar of $40 million.
