Motorola Solutions Total Revenue Down, Video Revenue Up

By John Honovich, Published Oct 30, 2020, 09:56am EDT (Info+)

Motorola Solutions' total revenue is down, but video (both fixed and bodyworn) are up.

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Inside this note, we examine Motorola's Q3 2020 results including detailed comments from management about Motorola's video performance, including Avigilon, Pelco, and Watchguard.

Financial ******* ********

*******, ********'* ******* *** **** *%,*** *** ** ************:

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** **********, *** ******** *** *********** side *** **** **%:

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******** ******* ****** ***** *** ***** video ************ *********, **** ****** **** substantially:

*** ******** *** ******* *********** ******* declined **%primarily *** ** ***** ***** ** ****** ****** *** ******** *** ************ *** ********** ***** (PCR), partially offset by growth in video security.

******** **** *** ***** **** ********, Watchguard ** ***** ********* **** *** own ******* ** *** ******** ******* growth ** ***** ** *** ******** available.

Management ** ***** ********

*******,** *** ********'* ****, ******** **** * ****** ** comments ************ *** *** ***** ******** is *****.

**** ********** ***** **** ** ****** a ******* ****** ******** *** **** this ****:

** *** **** *** *** ***** assets **** ** ****, *** ****, fixed, **** **** ** *** ******* plate ***********, ************ *** ***************, *** know, **** ******** *** ** ** likely ** ** ***** *** ******* for **** ****

*******, **** ** ***** **** * fraction ** ********'* ~$* ******* ****** revenue.

** *** ***** ****, ******** ********* to ****** ** ** **** **** faster **** ***** ******** ********, ********** with *** ** ****** **** ****** metric:

***'** ***** ** **** ***** ******* at ***** * *** ******, **** three * *** ****** ** ****** the ***** ***** *** ****** ******* piece, ***** ** ***** ******* ** can *******. ** *** **** *** size ** *** ***** ****** *** in *********, *** ** ****** **** China ***, ***** ***** ********** ***********, this ** ***** ** ** ** $18 ******* ******** *********** ******. **'* actually *** ******* *********** ****** ** have. ** * ***** *****'* **** to *** **** **** *** ****** we've ***********, ***** **** *** ********* that *** **** ** ********** ** intelligent **** ******* ** ****.

** *** ****, ******** *** ***** that ** * ***** ****** ****** rate ** *** ****** ******, ******** their ***** ****** **** ***** ** 15 - **%.

**** ********** ********** ******** ******* ** government:

***** ** ***** ***** ** *** government ********* **** ******. ***** ****** digit ******

*******, ***** *** ***** ******* **** sell **** ** ********** *********:

***** ***** * ******* ** **** as ****, ***** *** **** **** that *********** **** **** * *** of *********** ********** ********** **** ******* us ** **** ***** ** ** further *** ********** *********, **** **** beneficial

****, **** ****** *** ******* ******* body **** ******** ** ******* ***** and ****** ************** **** ****:

**** **** **** ***** ** ** we *** *** ********* ******* **'** we've *** ****** **** ****** *** a *** ** *** ******* ****** driver ******* *** ***** *******.

******* ******* ****** *** **** **** video ****** ** ************* ***********, ***** came ******* ** *********** ** * part ** ********** ****** ******

********'* **** ** *** ***** *** mentioned ** ****, ********* **** **** recently ******** (*** *** **** *******):

******** ***** ******** *** *** **** 4000, *** *.* ***** ********* ** the *****.

*******, ***** ******** *** **** **** acquisitions ******** (********* ********, ************ *** Pelco) **** **** **** ******** ***** next ****:

** ******* ** ************ **** ****, it **** ** ** **** * reflection ** **** ************* **** *** way

Overall ******* ******** ** ******** ** *******

******** **** **** ****** ***** ******* decline ** ********:

******-******* **** - ******** ********* ******* revenue ******* ** (*%) ** (*.*%) compared **** *** ****** ******* ** 2019.

** **** ** *********** ** *** if ** **** ******** *** **** than ****** *** ******** ** ***** historical ********** **** *** ******* ********* to ******** ******* **** *****.

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