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Cost cuts and a stronger dollar led to a $60
million decline in its operating expenses in the fist quarter
ended April 4, Motorola Solutions said on Wednesday.
The dollar has surged about 20 percent in the past year against
a basket of major currencies.
Motorola Solutions said in February that it managed to cut its
operating expenses by more than $200 million by the end of 2014
and expected further savings of about $150 million this year.
Revenue from North America, from where Motorola Solutions get
about 60 percent of its revenue, increased 6 percent. Total
revenue was marginally down at $1.22 billion — slightly above
the average analyst estimate of $1.19 billion.
Net income from continuing operations attributable to Motorola
Solutions rose to $87 million, or 40 cents per share, in the
first quarter ended April 4, from $85 million, or 33 cents per
share, a year earlier.
Excluding items, the company earned 38 cents per share, much
ahead of the 25 cents analysts expected.
Motorola Solutions forecast a 3-5 percent fall in sales for the
second quarter.
The company's dependence on government spending has increased
after it sold its enterprise business to Zebra Technologies Corp
last year.
Bloomberg had reported in April that Motorola Solutions failed
to find a buyer after seeking to drum up interest from
private-equity funds and large industrial companies.
Motorola Solutions shares have fallen about 12.7 percent this
year through Tuesday's close.
(Reporting by Arathy S Nair and Abhirup Roy in Bengaluru;
Editing by Joyjeet Das; Editing by Joyjeet Das)
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