Motorola Solutions, Inc. (MSI) showed its versatility recently showcasing contracts in both the military and first responder markets.
The military contract was announced by the Department of Defense on Monday, with work to be performed for the Navy. Motorola will be performing life cycle sustainment of Navy Engineering anti-terrorism/force protection ashore mobile radio systems worldwide.
This is important stock news for the company and the MSI stock price as this is a follow on contract to one that expired this month. And, this is a good indication the Navy is satisfied with the services being provided by the company, as this was not only a follow on contract, but the company was chosen on a sole source basis.
The original contract brought in $77 million for the company when all options were exercised. This new contract has a potential payout of over $93 million with almost $24 million being paid in 2020. The contract runs through 2023.
The company also reported late last week that its partnership with the Indianapolis Metropolitan Police Department (IMPD) is bearing fruit for residents seeking a safer environment.
In 2017, the company provided a vision of an all-in-one hub for officers to quickly find vital information critical to their jobs without needing to sift through a variety of systems. That vision is now up and running, based on Motorola’s CommandCentral Aware platform, and is finding new ways to keep the community safe.
The MSI stock price is being buoyed by innovative approaches to safety like the one announced last week. Citizens can now directly hook their security cameras into the IMPD Motorola provided system, and officers can review camera data in the event of a call for service, or a reported public safety threat.
IMPD Chief Bryan Roach praised the MSI system, and its impact in keeping citizens safe. “We’ve always had the mantra that the community and the police should be one. Residents can register their cameras…and we’ll be working together to keep communities safe.”
Some form of Motorola’s first responder platform is currently being utilized to cover over 215 million U.S. citizens. And, the platform is active in over 38 countries worldwide.
In its most recent quarterly report, Motorola Solutions forecast 5% to 5.5% revenue growth over the year ago fourth quarter. This would put earnings for this quarter in the $2.75-$2.80 range. As Greg Brown, Motorola Chairman and CEO stated, this puts the company on track for “record sales, earnings, and cash flow” this year.
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