As for the company's efforts to break into the tablet business, it says it "shipped" 200,000 tablets in Q4 and an even one million during the year, although there's no word on actual sale figures to consumers. Motorola's Sanjay Jha also says that the company remains "energized" about the proposed merger with Google, which is still expected to close in early 2012 (it's also, incidentally, precluded an earnings call for today). Those interested can find all of the company's numbers at the source link below.
Jan. 26, 2012
Fourth Quarter Financial Highlights
Net revenues of $3.4 billion
Non-GAAP net earnings of $0.20 per share compared to net earnings of $0.37 per share in fourth quarter 2010; GAAP net loss of $0.27 per share compared to net earnings of $0.27 per share in fourth quarter 2010
Mobile Devices net revenues of $2.5 billion, up 5 percent from fourth quarter 2010; Non-GAAP operating loss of $19 million; GAAP operating loss of $70 million
Shipped 10.5 million mobile devices, including 5.3 million smartphones
Home net revenues of $897 million, down 11 percent from fourth quarter 2010; Non-GAAP operating earnings of $84 million; GAAP operating earnings of $57 million
Click here for printable press release and financial tables.
LIBERTYVILLE, Ill. – Jan. 26, 2012 – Motorola Mobility Holdings, Inc. (NYSE: MMI) today reported net revenues of $3.4 billion in the fourth quarter of 2011, comparable to the fourth quarter of 2010. The GAAP net loss in the fourth quarter of 2011 was $80 million, or $0.27 per share, compared to net earnings of $80 million, or $0.27 per share, in the fourth quarter of 2010. On a non-GAAP basis, net earnings in the fourth quarter 2011 were $61 million, or $0.20 per share, compared to net earnings of $108 million, or $0.37 per share, in the fourth quarter of 2010.
For the full year, 2011 net revenues were $13.1 billion, up 14 percent compared to 2010. For the full year, the GAAP net loss was $0.84 per share compared to a loss of $0.29 per share in 2010. On a non-GAAP basis, net earnings were $0.33 per share compared to a loss of $0.28 per share in 2010.
The Company generated positive operating cash flow of $225 million and $357 million in the fourth quarter and full year, respectively. Total cash at the end of the quarter was $3.6 billion and includes cash, cash equivalents, and cash deposits.
Details on non-GAAP adjustments and the use of non-GAAP measures are included later in this press release and in the financial tables.
"In the fourth quarter, we received very positive consumer response to Motorola RAZR, which combined an iconic brand with ultra-thin in an innovative smartphone. Our Home business continues to be a leader in the industry's transformation to all IP, with unique solutions that enable rich media experiences across any screen," said Sanjay Jha, chairman and chief executive officer, Motorola Mobility. "We remain energized by the proposed merger with Google and continue to focus on creating innovative technologies."
Mobile Devices net revenues in the fourth quarter, impacted by the increased competitive environment, were $2.5 billion, up 5 percent compared with the year-ago quarter. The GAAP operating loss was $70 million compared to operating earnings of $72 million in the year-ago quarter. The non-GAAP operating loss was $19 million compared to operating earnings of $56 million in the year-ago quarter. For the full year 2011, net revenues were $9.5 billion, an increase of 22 percent compared to 2010. The 2011 GAAP operating loss was $285 million compared to an operating loss of $76 million in 2010. The 2011 non-GAAP operating loss was $126 million compared to an operating loss of $198 million in 2010.
The Company shipped a total of 10.5 million and 42.4 million mobile devices in the fourth quarter and full year 2011, respectively. This included 5.3 million and 18.7 million smartphones and approximately 200 thousand and 1 million tablets in the fourth quarter and full year, respectively.
Mobile Devices highlights:
Launched Motorola RAZR™ extending the iconic RAZR brand around the world
Announced DROID RAZR MAXX™, featuring twice as much battery life as the leading competitor and measuring only 8.99 millimeters
Unveiled the award-winning DROID 4 by Motorola, the thinnest and most powerful 4G LTE QWERTY smartphone featuring a five-row keyboard and edge-lit keys
Introduced two new 4G LTE tablets, the DROID XYBOARD 10.1™ and XYBOARD 8.2™.
Announced the "life proof" Motorola DEFY™ MINI and slim MOTOLUXE™, two new value priced additions to Motorola's growing budget-friendly portfolio
Shipped award-winning MOTOACTV™, the world's first combined GPS fitness tracker and MP3 player
Launched two flagship devices in China – the TD-SCDMA Motorola MT917 and the Motorola XT928, a dual-core, dual-mode, dual-standby smartphone
Home segment net revenues in the fourth quarter were $897 million, down 11 percent compared with the year-ago quarter. GAAP operating earnings were $57 million, compared to $54 million in the year-ago quarter. Non-GAAP operating earnings were $84 million compared to $90 million in the year-ago quarter. Fourth quarter set-top shipments were down 3 percent compared to the year-ago quarter. For the full year 2011, net revenues were $3.5 billion, compared to $3.6 billion in 2010. GAAP operating earnings increased to $226 million from $152 million in 2010. The 2011 non-GAAP operating earnings increased to $332 million from $272 million in 2010. Full year set-top shipments were up 6 percent compared to 2010.
Launched DreamGallery next-generation HTML-5 video navigation software in North America with Shaw Communications
Expanded video leadership and paved the way for Canada's move to all-MPEG-4 broadcast and On-Demand HD services with Eastlink
Demonstrated market leadership with introduction of new carrier Ethernet product line for the deployment of cost-effective commercial services
Introduced Motorola APEX3000, which delivers market-leading density to cost-effectively add greater demand for narrowcast services such as VOD and DVR
Selected by Altibox AS in Norway to provide VAP 2400 HD wireless video bridge to enable multi-room TV services
As previously announced on August 15, 2011, Motorola Mobility and Google Inc. ("Google") (NASDAQ: GOOG) entered into a definitive agreement for Google to acquire Motorola Mobility for $40.00 per share in cash, or a total of approximately $12.5 billion. On November 17, 2011, Motorola Mobility stockholders voted overwhelmingly to approve the proposed merger with Google at the Company's Special Meeting of Stockholders. The Company continues to work closely with Google to complete the proposed acquisition of Motorola Mobility as expeditiously as possible.
The Company notes that the transaction remains subject to various closing conditions. Antitrust clearances, or waiting period expirations, are required by the U.S. Department of Justice (DOJ), by the European Commission, and in Canada, China, Israel, Russia, Taiwan and Turkey. Requisite filings have been submitted to the appropriate regulatory body in each of these jurisdictions. Clearances have been received in Turkey and Russia. In Canada and the United States, the statutory waiting period for the transaction has expired although the parties have been informed that the reviewing agencies have not closed their respective investigations. In December 2011, the Chinese Ministry of Commerce proceeded to phase two of its investigation. In February, the European Commission is expected to announce whether it will close its investigation or proceed to a phase two investigation.
The Company currently expects the transaction to close in early 2012 once all conditions have been satisfied and reminds stockholders that it is possible that the failure to timely meet such conditions or other factors outside of the Company's control could delay or prevent completion of the transaction altogether.
For more information on the proposed merger, please visit http://investors.motorola.com.
- Key specs
- Reviews • 5
- Form factor Tablet
- Operating system Android (Ice Cream Sandwich [4.0])
- Screen size 10.1 inches
- Storage type Internal storage (16 GB, Flash), Memory card
- Camera (integrated) 5 megapixels
- Maximum battery life Up to 10 hours
- Dimensions 6.83 x 10 x 0.35 in
- Weight 1.32 lb