Motorola Solutions sees profitable year, plans to keep Schaumburg workforce stable
- Article
- Comments (0)
- Photos (2)
With a profitable year in 2011, Motorola Solutions aims to keep its workforce stable in Schaumburg, while bringing in colleagues from out of state or hiring workers for its new Chicago office, CEO Greg Brown said during an interview Wednesday, about a year after the company's split from Motorola Inc.
While net income dropped in the fourth quarter, Motorola Solutions saw a profitable full year in 2011, the Schaumburg company reported Wednesday.
“We've had a great year and expect more growth to continue,” Brown said in a phone interview.
In January 2011, Motorola Solutions split from Motorola Inc. The move also created Libertyville-based Motorola Mobility, which was quickly acquired by Google. Motorola Solutions sells communications equipment and network services to government, first-responders and businesses and employs about 23,000 worldwide, including 5,000 in the Schaumburg area.
Brown said the company is on target to move 400 workers into a new Chicago office by the end of this year, fulfilling their agreement made last year with Chicago Mayor Rahm Emanuel. The company has narrowed selections to two sites, but Brown declined to discuss details.
In addition, Motorola Solutions still has two buildings on its Schaumburg campus up for lease.
Last February, the company said it would lease out the so-called Parts Building, used primarily as a warehouse with about 260,000 square feet, and the IT Building, which has specialized devices and equipment with about 170,000 square feet. The company had hoped to use the rental fees to help offset expenses for operating the buildings.
As for Motorola Solutions earnings, its fourth-quarter profit fell 37 percent to $184 million, or 56 cents a share, compared to $292 million, or 86 cents per share, for the same period in 2010. Fourth-quarter revenues were $2.3 billion, up 5 percent, compared to $2.19 billion for the same period a year ago.
Still, it saw the entire year of 2011 show a net income of $1.16 billion, or $3.41 per share, compared to $633 million, or $1.87 per share in 2010. Revenues for 2011 were $8.2 billion, compared to $7.62 billion in 2010.
Brown said the company likely will focus on more mobile computing devices, managed services for corporations, and next-generation public safety devices this year.
