Motorola Announces Third-Quarter Sales and Earnings

Thursday, October 25th, 2007
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Third-Quarter Highlights

  • GAAP earnings from continuing operations of $0.02 per share, including net charges of $0.04 per share from highlighted items
  • Sales of $8.8 billion
  • Financial improvements in the Mobile Devices business
  • Enterprise Mobility Solutions business continues to deliver strong results
  • Positive operating cash flow of $342 million and reduced cash conversion cycle to 43 days

SCHAUMBURG, Ill. — Motorola, Inc. (NYSE: MOT) today reported sales of $8.8 billion for the third quarter of 2007. The GAAP earnings from continuing operations for the third quarter of 2007 were $0.02 per share, which includes net charges of $0.04 per share related to charges associated with previously announced workforce reductions and a write-down of intangible assets.

Home and Networks Mobility had segment sales of $2.4 billion, up 6 percent compared with the year-ago quarter. Excluding highlighted items, operating earnings were $165 million, compared with operating earnings of $231 million in the year-ago quarter.

During the quarter, Home and Networks Mobility:

  • Shipped its two millionth IPTV set-top device, just five months after reaching the one million milestone.
  • Strengthened portfolio with several strategic acquisitions including Leapstone Systems, Modulus Video, and Terayon Communications.
  • Conducted the world’s first WiMAX 802.16e mobile handoff during the WiMAX World Conference in Chicago.
  • Announced plans to divest the embedded communications computing business for $350 million in cash.

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