Motorola Mobility Announces Third Quarter Financial Results

LIBERTYVILLE, Ill. — Motorola Mobility Holdings, Inc. (NYSE: MMI) today reported net revenues of $3.3 billion in the third quarter of 2011, up 11 percent from the third quarter of 2010. The GAAP net loss in the third quarter of 2011 was $32 million, or $0.11 per share, compared to a net loss of $34 million, or $0.12 per share, in the third quarter of 2010. On a non-GAAP basis, the net earnings in the third quarter of 2011 were $35 million, or $0.12 per share, compared to net earnings of $38 million, or $0.13 per share, in the third quarter of 2010.

Home segment net revenues in the third quarter were $825 million, down 10 percent compared with the year-ago quarter. GAAP operating earnings were $54 million, compared to $49 million in the year-ago quarter. Non-GAAP operating earnings were $77 million, the same as in the year-ago quarter. Set-top shipments were down 3 percent compared to the year-ago quarter.

Home highlights:

• 4Home software platform chosen to power Verizon’s new Home Monitoring and Control service in North America for the smart, digital home.
• Introduced family of advanced video processing technologies to drive bandwidth efficiency and video quality in the European market, including the SE-6000 video encoder and the ST-6000 transcoder.
• Expanded Internet Protocol (IP) growth and leadership in Russia, extending IPTV set-top rollout with leading telecom provider, Vimpelcom Ltd.
• Selected by Henan Cable to deliver Video On Demand and Network Digital Video Recording services to its 3.6 million subscribers in China, using M3 Media Server family.