Mobile phone market behemoth and tech solutions provider Motorola (NYSE : MSI) has delivered solid fourth-quarter sales reaching US$3 billion - a 6% increase compared to the same period last year.
For the full year, sales grew by 5% driven by strong performance across both its Products and Systems Integration and Software and Services divisions.
In Q4, Products and Systems Integration sales grew by 3%, contributing to a full-year increase of 10% while Software and Services sales saw impressive 11% growth in the quarter, with full-year sales up 5% due to “disciplined cost management and operational efficiency”.
US$329m ten-year services renewal for Melbourne's LMR network
US$160m five-year LMR services renewal for Norway’s nationwide public safety network
US$68m LMR services order for U.S. state and local customers
US$40m Command Center order from the Scottish Fire Service
US$16m fixed video order for the Sao Paulo State Government
This growth underscores the company’s “successful pivot toward higher-margin software and services offerings, which continue to gain traction in the market”, Motorola said about the results.
Motorala also showed robust cashflow of US$1.1 billion during the quarter (US$2.4bn over the year - a 17% increase) which has set up the company to pay out US$164 million in dividends, whilst continuing to invest in innovation and strategic acquisitions.
It's buoyed by a record-ending backlog of US$14.7 billion, up 3% from a year ago, signaling strong demand for its products and services and providing visibility into future revenue growth.
Motorola CEO Greg Brown said 2024 marked another exceptional year for the company.
“Strong demand for our safety and security solutions, together with our record backlog, positions us well for another year of strong growth.”
