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A Q1 miss and soft guidance lead Motorola Solutions (MSI -9.3%) to dive. The...

A Q1 miss and soft guidance lead Motorola Solutions (MSI -9.3%) to dive. The enterprise/government networking hardware provider expects Q2 revenue to be flat to down 2% Y/Y and EPS to come in at $0.66-$0.71, below a consensus of 4.6% growth and $0.86. Moreover, MSI now forecasts full-year revenue growth of 3%-4%, below a 5.3% consensus. Government sales rose 3% Y/Y in Q1 (down from +10% in Q4), while enterprise sales fell 4%, and would've dropped 12% if not for the acquisition of handheld computer vendor Psion (-3% in Q4 inc. Psion, -12% otherwise). Gross margin fell 130 bps Y/Y to 48.4%. (PR)
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