Motorola Solutions, Inc. (NYSE:MSI) Q4 2014 Earnings Conference Call - Final Transcript

Feb 04, 2015 • 07:00 am ET


Motorola Solutions, Inc. (NYSE:MSI) Q4 2014 Earnings Conference Call - Final Transcript


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Good morning, and thank you for holding. Welcome to the Motorola Solutions Fourth Quarter 2014 Earnings Conference Call. Today's call is being recorded. If you have any objections, please disconnect at this time. The presentation material and additional financial tables are currently posted on the Motorola Solutions Investor Relations website. In addition, a replay of this call will be made available approximately three hours after the conclusion of this call over the Internet. The website address is

At this time, all participants have been placed in a listen-only mode and the line will be open for your questions following the presentation. I would now like to introduce Mr. Shep Dunlap, Vice President of Investor Relations. Mr. Dunlap, you may begin your conference.

Shep Dunlap

Thanks and good morning. I'd like to welcome you to our conference call to discuss financial and operating results for fiscal 2014 fourth quarter and full year. With me this morning are Greg Brown, Chairman and CEO; Gino Bonanotte, Executive Vice President and CFO; Mark Moon, Executive Vice President and President, Sales and Product Operations; and Bob Schassler, Executive Vice President, Solutions and Services.

Greg and Gino will review our results along with commentary, and Mark and Bob will join for the Q&A portion of the call. We have posted an earnings presentation and press release at These materials include GAAP to non-GAAP reconciliations for your reference, which we encourage you to review.

I would also like to remind you that we will be hosting our Financial Analyst Day on February 17 here at our headquarters in Schaumburg. Please feel free to contact investor relations if you have questions regarding the event. A number of forward-looking statements will be made during this presentation and during Q&A. These statements are based on current expectations and assumptions that are subject to a variety of risks and uncertainties. Actual results could differ materially from these forward-looking statements. Information about factors that could cause such differences can be found in this morning's earnings press release, the comments made during this conference call and the risk factors section of our 2013 Annual Report on Form 10-K and Quarterly Report on Form 10-Q ended March 29, 2014, as well as other MSI reports and filings with the SEC. We do not undertake any duty to update any forward-looking statements.

I'd like to now turn it over to Greg.

Greg Brown

Thanks, Shep. Good morning, and thanks for joining us today. Q4 was a solid quarter for Motorola Solutions, and we continued to see signs of recovery in large parts of our business. As I think about the quarter and beyond, there are a few thoughts I'd like to share. First, we continue to see improvement in our North America business. Q4 marked a return to growth and we're encouraged by indicators such as orders, backlog and devices sales as we move into 2015.

Second, just last week, we secured a contract valued at over $200 million with a country in the Middle East for a