Motorola Solutions, Inc.

Good afternoon and thank you for holding. Welcome to the Motorola Solutions Second Quarter 2020 Earnings Conference Call. Today's call is being recorded. If you have any objections, please disconnect at this time. The presentation material and additional financial tables are currently posted on the Motorola Solutions Investor Relations website. In addition, a replay of this call will be available approximately three hours after the conclusion of this call over the internet. The website address is www.motorolasolutions.com forward slash investor. At this time, all participants have been placed in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. You will have an opportunity to ask questions after today's presentation. I will now like to introduce Mr. Tim Yochum, Vice President of Investor Relations. Mr. Yochum, you may begin your conference.

Good afternoon. Welcome to our 2020 Second Quarter Earnings Call. With me today are Greg Brown, Chairman and CEO, Jason Winkler, Executive Vice President and CFO, Jack Malloy, Executive Vice President, Products and Sales, and Kelly Mark, Executive Vice President, Software and Services. Greg and Jason will review our results along with commentary, and Jack and Kelly will join for Q&A. We've posted an earnings presentation and news release at MotorolaSolutions.com slash investor. These materials include GAAP to non-GAAP reconciliations for your reference. And during the call, we referenced non-GAAP financial results, including those in our outlook, unless otherwise noted. A number of forward-looking statements will be made during this presentation and during the Q&A portion of the call. These statements are based on current expectations and assumptions that are subject to a variety of risks and uncertainties. Actual results could differ materially from these forward-looking statements. Information about factors that could cause such differences can be found in today's earnings news release, in the comments made during this conference call, in the risk factor section of our 2019 annual report on Form 10-K, in our other reports and filings with the SEC. We do not undertake any duty to update any forward-looking statements. And with that, I'll turn it over to Greg.

Thanks, Tim. Good afternoon, and thanks for joining us today. I'll start off by sharing a few thoughts about the overall business before our CFO, Jason Winkler, takes us through our Q2 results and outlook. First, I'm proud of our focus and execution in the second quarter as we dealt with the challenges from COVID-19. We achieved revenue and earnings per share above our expectations, generated $209 million of operating cash flow, and continued to grow in our video security, command center software, and services businesses. Additionally, we closed the acquisition of IndigoVision and earlier this week announced the acquisition of Pelco, investments which further strengthen our position as a global leader in video security. Second, our software and services segment continues to perform well. During the quarter, the segment grew 5% and expanded operating margins by 260 basis points. We also won several new multi-year software and services contracts, highlighted by a $26 million NextGen 911 contract with the state of Utah. And finally, I'm inspired by how our employees across the business continue to find ways to engage with customers to sell deploy, and support their solutions. And while the COVID-19 environment remains fluid, I am encouraged by the customer activity we've seen, particularly over the past several weeks. Now, before turning it over to Jason, I'd also like to take this opportunity to thank Gino Boninote for his 33 years of outstanding service at Motorola. One of Gino's many accomplishments was developing a world-class finance organization and Jason is a great example of our strong bench as well as our succession planning. Jason's operational finance experience across Motorola for almost 20 years and most recently leadership of our largest segment, including video security, uniquely qualifies him as Geno's successor. I personally have worked closely with Jason for just under 10 years, and several of you may recall him from when he was in investor relations a few years back. And with that, I'll now turn the call over to Jason to take you through our results and outlook before returning for some final thoughts.