Communications gear maker Motorola Solutions cuts forecast again

Communications gear maker Motorola Solutions Inc cut its full-year forecast for the second time as it struggles with a slowdown in sales to businesses.

The company expects full-year revenue to remain flat or rise just 1 percent, down from its earlier forecast of a growth of 3-4 percent.

Motorola Solutions cuts forecast

Net income from continuing operations rose to $258 million, or 94 cents per share, in the second quarter, from $177 million, or 60 cents per share, a year earlier.

Revenue fell 2 percent to $2.10 billion.

Sales in its enterprise business, which brought in about a third of the company’s revenue last year, fell 5 percent to $656 million.

Motorola Solutions dominates the two-way radio market with its land-mobile-radio systems and public-safety products, and the U.S. government is its largest customer.

Reuters