Motorola Announces Second-Quarter Financial ResultsThursday, July 31st, 2008
SCHAUMBURG, Ill. — Motorola, Inc. (NYSE: MOT) today reported sales of $8.1 billion in the second quarter of 2008. GAAP net earnings from continuing operations in the second quarter of 2008 were $4 million, or $0.00 per share.
Home and Networks Mobility segment sales were $2.7 billion, up 7 percent compared to the year-ago quarter. Operating earnings were $245 million, which represents an increase of 28 percent as compared to operating earnings of $191 million in the year-ago quarter.
Home and Networks Mobility highlights:
“¢ Operating margin expansion year-over-year from 7.4 percent of sales to 8.9 percent of sales
“¢ Record sales in Home, driven by shipments of 4.9 million digital entertainment devices, due to continued strong demand for HD, HD/DVR and IPTV devices
“¢ Consumer demand for HD content continued to drive the uptake of MPEG-4. This quarter we added DirecTV, HBO LatAM and Starz to the lineup of programmers and service providers transitioning from MPEG-2
“¢ DOCSIS® 3.0 momentum with certification for multiple Motorola cable modems, bronze qualification for the BSR 64000 cable modem termination system edge route, as well as customer deployment with J:Com in Japan
“¢ Momentum in WiMAX continued and Motorola now has 19 contracts for commercial WiMAX systems in 16 countries
Mobile Devices segment sales were $3.3 billion, down 22 percent compared to the year-ago quarter. The segment reported an operating loss of $346 million, compared to an operating loss of $332 million in the year-ago quarter.
Enterprise Mobility Solutions segment sales were $2.0 billion, up 6 percent compared to the year-ago quarter. Operating earnings increased to $377 million, which represents an increase of 24 percent as compared to operating earnings of $303 million in the year-ago quarter.
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