Motorola Mobility reports $56 million net loss in Q2, $3.3 billion in revenue, Bionic debut in September

Back in the last quarter of 2010, Motorola Mobility predicted a rocky road for future business, and its Q2 earnings seem to be right on track. The company reported total net revenues of $3.3 billion in the second quarter, up 28 percent year-over-year, but saw a net loss of $56 million, compared to earnings of $80 million in the second quarter of 2010. Mobile Devices saw an operating loss of $85 million, compared to the previous year's earnings of $87 million. Moto's not all doom and gloom however, as it predicts profitability in mobile devices by Q4. In terms of sales, the company reportedly shipped 11 million mobile devices, including 4.4 million smartphones and 440,000 Xoom tablets. Here's hoping Motorola's powers of prediction remain strong.Full PR after the break.

We'd heard that the Droid Bionic was "coming soon," but up until today, we still didn't have a firm date for the LTE Android phone. Well, the cat is sort of out of the bag, as Mobility CEO Sanjay Jha has just announced that the long-awaited handset will hit stores in September. When in September is still anyone's guess, but we'll keep you posted as we learn more.

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Motorola Mobility Announces Second-Quarter Financial Results

Second Quarter Financial Highlights
-Net revenues of $3.3 billion, up 28 percent from second quarter 2010
-GAAP net loss of $0.19 per share compared to net earnings of $0.27 per share in
second quarter 2010
-Non-GAAP earnings of $0.09 per share compared to $0.30 loss in second
quarter 2010
-Mobile Devices revenues of $2.4 billion, up 41 percent from second quarter
2010; GAAP operating loss of $85 million; non-GAAP operating loss of $31
million
-Shipped 11.0 million mobile devices, including 4.4 million smartphones and
440,000 tablets
-Home revenues of $907 million, up 2 percent from second quarter 2010; GAAP
operating earnings of $62 million; non-GAAP operating earnings of $90 million

LIBERTYVILLE, Ill. – July 28, 2011 – Motorola Mobility Holdings, Inc. (NYSE: MMI)
today reported net revenues of $3.3 billion in the second quarter of 2011, up 28 percent
from the second quarter of 2010. The GAAP net loss in the second quarter of 2011 was
$56 million, or $0.19 per share, compared to net earnings of $80 million, or $0.27 per
share, in the second quarter of 2010. On a non-GAAP basis, the net earnings in the
second quarter of 2011 were $26 million, or $0.09 per share, compared to a loss of $87
million, or $0.30 per share, in the second quarter of 2010.

Total cash at the end of the quarter was $3.2 billion and includes cash, cash equivalents
and cash deposits, and operating cash flow was breakeven for the quarter.
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 second quarter, Mobile Devices launched several new smartphones in the U.S.
and markets around the world. Revenues grew over 40 percent driven largely by Latin
America and China where sales more than doubled year over year. Our Home business
delivered another strong performance, and we introduced several innovative products
and services for next generation multi-screen video solutions," said Sanjay Jha,
chairman and chief executive officer, Motorola Mobility. "With a focus on profitable
growth and delivering differentiated LTE smartphones and tablets, we expect to achieve
profitability in Mobile Devices in the fourth quarter and for the full year 2011."

Operating Results
Mobile Devices net revenues in the second quarter were $2.4 billion, up 41 percent
compared with the year-ago quarter. The GAAP operating loss was $85 million
compared to operating earnings of $87 million in the year-ago quarter. The non-GAAP
operating loss was $31 million compared to an operating loss of $109 million in the
year-ago quarter. The Company shipped a total of 11.0 million mobile devices, including
4.4 million smartphones and 440,000 Motorola XOOM™ tablets. In the second quarter
of 2010, the company shipped 8.3 million mobile devices, including 2.7 million
smartphones.

Mobile Devices highlights:
-Expanded Motorola DROID family at Verizon Wireless with the introduction of
DROID X2 and DROID 3 by Motorola both featuring a dual-core 1GHz processor,
providing better gaming experiences, web browsing, multi-tasking, and Adobe®
Flash® video performance
-Launched 4 new smartphones in China, including the Motorola XT883 with China
Telecom, the newest and most advanced member of the powerful Milestone™
product family, and the XT316, Motorola's first value priced smartphone for
emerging market consumers
-Announced plans to launch 10 devices in 2011 with Sprint, including Motorola
Photon™ 4G, Sprint's first international smartphone, the ready-for business
Motorola XPRT™ smartphone, the Motorola TITANIUM™ smartphone featuring
iDEN technology, and Motorola TRIUMPH™, a value priced smartphone for
prepaid customers on Virgin Mobile USA
-Expanded distribution of the ATRIX™ 4G smartphone and Motorola XOOM
tablets into Latin America, China, Korea, and Europe
-Named exclusive U.S. launch marketing partner for mobile devices and tablets
by Spotify. Spotify is an award-winning digital music service that gives users ondemand
access to one of the world's largest music libraries

Home segment net revenues in the second quarter were $907 million, up 2 percent
compared with the year-ago quarter. GAAP operating earnings were $62 million,
compared to $29 million in the year-ago quarter. Non-GAAP operating earnings
increased to $90 million from $58 million in the year-ago quarter. The Company
maintained its leadership in key markets with set-top shipments up more than 10
percent as compared to the year-ago quarter.

Home highlights:
-Introduced Motorola Televation™, a broadband video device enabling
consumers to watch live TV on a connected IP device anywhere around the
home
-Launched the Medios Xperience platform which enables operators to merge
video content with social networking, games and web-based content, and deliver
more interactive functionality with broadcast television and video-on-demand
services
-Selected by Time Warner Cable to develop a video gateway platform capable of
delivering an advanced in-home entertainment experience and announced the
DCX3600M, Motorola's first video gateway device
-Selected by ESPN to transition all programming for ESPN and ESPN-2 networks
to an MPEG-4 HD format using Motorola's video distribution solution

Third-Quarter and 2011 Outlook
The Company's outlook for the third quarter and full year 2011 is the following:
-Third-quarter net earnings per share of $0.00 to $0.10
-2011 net earnings per share of $0.48 to $0.60
-Excludes charges associated with items of the variety typically highlighted by the