Earnings release
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Exhibit 99.1 Motorola Solutions Reports Third - Quarter 2021 Financial Results Company raises full - year revenue and EPS guidance again following record Q3 revenue and earnings Sales of $ 2.1 billion , up 13 % versus a year ago о Products and Systems Integration sales up 14 % ° Software and Services sales up 11 % • GAAP earnings per share ( EPS ) of $ 1.76 • • Non - GAAP EPS * of $ 2.35 , up 21 % versus a year ago Record Q3 ending backlog of $ 11.4 billion , up 7 % versus a year ago Generated $ 376 million of operating cash flow Subsequent to quarter end , acquired Envysion , a leader in enterprise video security and business analytics for $ 124 million CHICAGO - November 4 , 2021 - Motorola Solutions , Inc. ( NYSE : MSI ) today reported its earnings results for the third quarter of 2021 . " Q3 was another excellent quarter , highlighted by double - digit revenue growth and strong operating margin expansion in both segments , " said Greg Brown , chairman and CEO of Motorola Solutions . “ Our Q3 record - ending backlog and continued business momentum position us well to finish the year with record sales , earnings , and cash flow . " KEY FINANCIAL RESULTS ( presented in millions , except per share data and percentages ) Sales GAAP Q3 2021 $ 2,107 Q3 2020 $ 1,868 % Change 13 % Operating Earnings $ 451 $ 352 28 % % of Sales 21.4 % 18.9 % EPS $ 1.76 $ 1.18 49 % Non - GAAP * Operating Earnings $ 555 $ 463 20 % % of Sales 26.3 % 24.8 % EPS $ 2.35 $ 1.95 21 % Products and Systems Integration Segment Sales $ 1,325 $ 1,163 14 % GAAP Operating Earnings $ 224 $ 164 37 % % of Sales Non - GAAP Operating Earnings * % of Sales Software and Services Segment Sales GAAP Operating Earnings % of Sales 16.9 % 14.1 % $ 273 $ 219 25 % 20.6 % 18.9 % Non - GAAP Operating Earnings * % of Sales $ 782 $ 705 11 % $ 227 $ 188 21 % 29.1 % 26.7 % $ 282 $ 244 16 % 36.0 % 34.6 % * Non - GAAP financial information excludes the after - tax impact of approximately $ 0.59 per diluted share related to highlighted items , including share - based compensation expenses and intangible assets amortization expense . Details regarding these non - GAAP adjustments and the use of non - GAAP measures are included later in this news release . 1