MOT » Topics » Financial Highlights

This excerpt taken from the MOT 8-K filed Jan 28, 2010.

Financial Highlights

 

·                 Fourth-quarter sales of $5.7 billion

·                 Fourth-quarter GAAP earnings of $0.06 per share, including net charges of $0.03 per share from highlighted items

·                 Full-year sales of $22.0 billion; full-year GAAP loss from continuing operations of $0.05 per share, compared to a net loss of $1.87 per share in 2008

·                 Total cash* of $8.0 billion, a sequential quarterly increase of $839 million

·                 Completed cost-reduction actions that generated more than $1.9 billion in cost savings for full-year 2009, with $1.5 billion in cost savings from Mobile Devices

·                 Enterprise Mobility Solutions sales of $2.0 billion; operating earnings of $368 million

·                 Home & Networks Mobility sales of $2.0 billion; operating earnings of $91 million

·                 Mobile Devices sales of $1.8 billion, excluding $200 million in deferred revenue on certain smartphones; shipped 12 million handsets, including 2 million smartphones; operating loss of $132 million

 

SCHAUMBURG, Ill. — January 28, 2010 — Motorola, Inc. (NYSE: MOT) today reported sales of $5.7 billion in the fourth quarter of 2009.  The GAAP earnings in the fourth quarter of 2009 were $142 million, or $0.06 per share.  The GAAP earnings include net charges of $0.03 per share from highlighted items, which are outlined at the end of this press release.

 

For the full year of 2009, sales were $22.0 billion.  The full-year GAAP loss from continuing operations was $0.05 per share, which included net charges of $0.07 per share from items highlighted in the Company’s quarterly earnings releases.  This compares to a GAAP loss from continuing operations of $1.87 per share in 2008, which included net charges of $1.89 per share from items highlighted in the Company’s quarterly earnings releases.

 

Consistent with the Company’s previously reported results, GAAP earnings per share include non-cash expenses for amortization of intangibles and stock-based compensation.  These expenses totaled $0.04 per share in the fourth quarter and $0.16 per share for full-year 2009.

 

During the quarter, the Company generated positive operating cash flow of $877 million.  For the full year, the Company generated positive operating cash flow of $629 million and ended the year with a total cash* position of $8.0 billion.

 



 

“We performed well in the face of a challenging environment in 2009.  Our results demonstrate the strength of our market leadership and the resilience of these businesses and our people,” said Greg Brown, Motorola co-chief executive officer and CEO of Broadband Mobility Solutions.  “As market growth returns, we are well positioned to take advantage of our investments in key global markets with a competitive cost structure.”

 

“We are pleased with the meaningful progress we made in 2009 in further improving our cost structure and strengthening the operations of the Mobile Devices business,” said Sanjay Jha, Motorola co-chief executive officer and CEO of Mobile Devices.  “Our first Android smartphone devices have been very well received. We look forward to broadening our handset portfolio in 2010 with the launch of at least 20 smartphone devices around the world and continued evolution of our MOTOBLUR™ service.  With an aggressive product and brand strategy and our continued focus on operational efficiency, we are building on our momentum to further improve the financial performance of the Mobile Devices business.”

 

This excerpt taken from the MOT 8-K filed Jan 18, 2005.

Fourth-Quarter 2004 Financial Highlights

 

  · Sales of $8.84 billion were up 27 percent from fourth-quarter 2003 sales of $6.94 billion. For the full year 2004, sales were $31.3 billion, a 35 percent increase from 2003.

 

  · Earnings from continuing operations were $687 million, or $.28 per share, up 56 percent compared to 2003 net earnings from continuing operations of $441 million, or $.18 cents per share. For the full year, earnings from continuing

 


1 Definitions of total debt and net cash are provided at the end of this release.


operations were $2.2 billion or $.91 per share, up 137 percent compared to $928 million or $.39 per share in 2003.

Fourth-quarter 2004 earnings from continuing operations include: (1) income of $93 million, or $.02 per share, from the sale of investments, (2) expense of $58 million, or $.02 per share, related to the write-off of goodwill, (3) income of $28 million, or $.01 per share, from the reversal of reserves related to exit costs and severance costs, (4) income of $23 million, or $ .01 per share from the collection of receivables that had been previously deemed uncollectible, and (5) IPR&D charges of $17 million, or $.01 per share, related to acquisitions.

 

  · Wireless handset shipments of 31.8 million, up 42 percent versus fourth-quarter 2003 shipments, representing an estimated market share of 16.6 percent, compared to 13.4 percent in the third quarter of 2004 and 13.7 percent in the fourth quarter of 2003.

 

  · Operating cash flow generated from continuing operations of $717 million.

 

  · Net Earnings including discontinued operations of $654 million, or $.27 per share, compared to fourth-quarter 2003 net earnings including discontinued operations of $489 million, or $.20 per share.

 

EXCERPTS ON THIS PAGE:

8-K
Jan 28, 2010
8-K
Jan 18, 2005
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