Wednesday, April 28, 2010

Motorola Posts a Profit on Q1 Sales of $5.0 Billion

Motorola reported sales of $5.0 billion in the first quarter of 2010. The GAAP earnings in the first quarter of 2010 were $69 million, or $0.03 per share, which compares to a GAAP loss from continuing operations of $291 million, or $0.13 per share, in Q1 2009. During the quarter, the company generated positive operating cash flow of $485 million and ended the quarter with a total cash position of $8.5 billion.


"We continue to execute on our business strategy, build momentum in smartphones and improve our operating performance. During the quarter, we increased smartphone shipments sequentially and introduced six new devices," said Sanjay Jha, Motorola co-chief executive officer and CEO of Mobile Devices and Home. "We are in a strong position to improve our share in the rapidly growing smartphone market, particularly in light of our competitive portfolio, strengthened brand and improved carrier relationships."

Some highlights:

Mobile Devices segment sales were $1.6 billion, down 9 percent compared with the year-ago quarter. The GAAP operating loss was $192 million, a significant improvement compared to the operating loss of $545 million in the year-ago quarter.

Motorola shipped 8.5 million mobile device units during the quarter, including 2.3 million smartphones.

During Q1, Motorola introduced six new Android-powered smartphones.

Motorola Home segment sales were $838 million, down 18 percent compared with the year-ago quarter. GAAP operating earnings were $20 million, compared to $3 million in the year-ago quarter.

Motorola shipped 3.1 million digital entertainment devices

Motorola's Enterprise Mobility Solutions segment sales were $1.7 billion, up 6 percent compared with the year-ago quarter. GAAP operating earnings were $141 million, compared with operating earnings of $66 million in the year-ago quarter.

During the quarter, Motorola secured one of the single largest TETRA terminal contracts ever awarded in Europe, including more than 50,000 terminals, from the German Federal Ministry of Interior.

Motorola's Networks segment sales were $896 million, down 7 percent compared with the year-ago quarter. GAAP operating earnings were $112 million, compared to $62 million in the year-ago quarter.

During Q1, Motorola shipped 2 millionth WiMAX CPE and dongles, doubling cumulative shipments in just five months.
http://www.motorola.com

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