Motorola Solutions Inc(NYSE:MSI) stock surged over 6% on Feb 2nd, 2018 (As of 2:52PM EST; Source: Google finance) leading to a total rise of over 16.3% in this year to date.
For the fourth quarter of 2017, the revenue rose 4% boosted by a better earnings and cash flow on a an ongoing strength of their Land Mobile Radio solutions lead by North America. The group continued to see demand across both the government as well as commercial customers around the world. The Ending backlog rose $1.2 billion to $9.6 billion, against last year. The Product segment backlog enhanced $382 million or 25% while Services segment backlog surged $860 million or 12%. For the full year of 2017, the revenue rose 6% driven by growth in every region while organic revenue enhanced 3%.
The Product segment revenue enhanced 3%, on the back of a better North America system sales and growth in commercial products. The Services revenue rose 9% with managed and support services growth in every region. The Operating earnings, rose 9% yoy to $1.6 billion while earnings per share enhanced 11% to $5.46. The GAAP operating earnings rose $108 million to $511 million.
As per the regional performance, Americas delivered an outstanding growth of 60% for the fourth quarter and 70% for the full year of 2017. Systems multiyear management support services and commercial products drove the performance. The Backlog rose $915 million in the region against last year which is a double-digit growth in both products and services year-over-year as customers continue to invest in there LMR solutions. Asia Pac rose 1% for the quarter and the year boosted by both products and services. The Backlog is up about $195 million, driven by services growth.
For the first quarter of 2018, the group expects a better revenue rise of over 7% while organic growth was 5% including over $40 million from currency tailwinds. The Non-GAAP EPS is forecasted to be in the range of $0.83 and $0.88 while an average diluted share count is over $169 million. For the full year of 2018, they see a revenue growth of over 5% with organic growth of over 4.5%. Non-GAAP EPS is expected to be in the range of $6.50 to $6.65.