Exhibit 99.1
Motorola, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations
(In millions, except per share amounts)
Condensed Consolidated Statements of Operations
(In millions, except per share amounts)
Quarter Ended | Quarter Ended | Quarter Ended | Quarter Ended | |||||||||||||
April 2, 2005 | July 2, 2005 | October 1, 2005 | December 31, 2005 | |||||||||||||
Net sales | $ | 7,767 | $ | 8,408 | $ | 9,048 | $ | 10,039 | ||||||||
Costs of sales | 5,186 | 5,651 | 6,119 | 6,867 | ||||||||||||
Gross margin | 2,581 | 2,757 | 2,929 | 3,172 | ||||||||||||
Selling, general and administrative expenses | 923 | 915 | 919 | 1,022 | ||||||||||||
Research and development expenditures | 807 | 878 | 882 | 958 | ||||||||||||
Other Charges (Income) | (5 | ) | 6 | 48 | (519 | ) | ||||||||||
Operating earnings | 856 | 958 | 1,080 | 1,711 | ||||||||||||
Other income (expense): | ||||||||||||||||
Interest expense, net | (8 | ) | 4 | 20 | 55 | |||||||||||
Gains on sales of investments and businesses | 239 | 409 | 1,266 | (69 | ) | |||||||||||
Other | (8 | ) | 20 | (106 | ) | (15 | ) | |||||||||
Total other income | 223 | 433 | 1,180 | (29 | ) | |||||||||||
Earnings from continuing operations before income taxes | 1,079 | 1,391 | 2,260 | 1,682 | ||||||||||||
Income tax expense | 394 | 472 | 522 | 505 | ||||||||||||
Earnings from continuing operations | 685 | 919 | 1,738 | 1,177 | ||||||||||||
Discontinued operations, net of tax: | ||||||||||||||||
Freescale Semiconductor | $ | — | $ | (14 | ) | $ | 1 | $ | (8 | ) | ||||||
Automotive Electronics Business | 7 | 28 | 12 | 33 | ||||||||||||
Total discontinued operations | 7 | 14 | 13 | 25 | ||||||||||||
Net earnings | $ | 692 | $ | 933 | $ | 1,751 | $ | 1,202 | ||||||||
Earnings per common share | ||||||||||||||||
Basic: | ||||||||||||||||
Continuing operations | $ | 0.28 | $ | 0.37 | $ | 0.70 | $ | 0.47 | ||||||||
Discontinued operations | — | 0.01 | 0.01 | 0.01 | ||||||||||||
$ | 0.28 | $ | 0.38 | $ | 0.71 | $ | 0.48 | |||||||||
Diluted: | ||||||||||||||||
Continuing operations | $ | 0.28 | $ | 0.37 | $ | 0.68 | $ | 0.46 | ||||||||
Discontinued operations | — | — | 0.01 | 0.01 | ||||||||||||
$ | 0.28 | $ | 0.37 | $ | 0.69 | $ | 0.47 | |||||||||
Weighted average common shares outstanding | ||||||||||||||||
Basic | 2,447.1 | 2,460.2 | 2,480.6 | 2,495.4 | ||||||||||||
Diluted | 2,487.1 | 2,504.0 | 2,547.0 | 2,559.9 | ||||||||||||
Dividends paid per share | $ | 0.04 | $ | 0.04 | $ | 0.04 | $ | 0.04 |
Motorola, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations
(In millions, except per share amounts)
Condensed Consolidated Statements of Operations
(In millions, except per share amounts)
Year Ended | Quarter Ended | |||||||
December 31, 2005 | April 1, 2006 | |||||||
Net sales | $ | 35,262 | $ | 9,608 | ||||
Costs of sales | 23,823 | 6,682 | ||||||
Gross margin | 11,439 | 2,926 | ||||||
Selling, general and administrative expenses | 3,779 | 1,101 | ||||||
Research and development expenditures | 3,525 | 946 | ||||||
Other Charges (Income) | (470 | ) | 30 | |||||
Operating earnings | 4,605 | 849 | ||||||
Other income (expense): | ||||||||
Interest expense, net | 71 | 67 | ||||||
Gains on sales of investments and businesses | 1,845 | 151 | ||||||
Other | (109 | ) | (19 | ) | ||||
Total other income | 1,807 | 199 | ||||||
Earnings from continuing operations before income taxes | 6,412 | 1,048 | ||||||
Income tax expense | 1,893 | 392 | ||||||
Earnings from continuing operations | 4,519 | 656 | ||||||
Discontinued operations, net of tax: | ||||||||
Freescale Semiconductor | $ | (21 | ) | $ | — | |||
Automotive Electronics Business | 80 | 30 | ||||||
Total discontinued operations | 59 | 30 | ||||||
Net earnings | $ | 4,578 | $ | 686 | ||||
Earnings per common share | ||||||||
Basic: | ||||||||
Continuing operations | $ | 1.83 | $ | 0.26 | ||||
Discontinued operations | 0.02 | 0.02 | ||||||
$ | 1.85 | $ | 0.28 | |||||
Diluted: | ||||||||
Continuing operations | $ | 1.79 | $ | 0.26 | ||||
Discontinued operations | 0.02 | 0.01 | ||||||
$ | 1.81 | $ | 0.27 | |||||
Weighted average common shares outstanding | ||||||||
Basic | 2,471.3 | 2,489.0 | ||||||
Diluted | 2,527.0 | 2,553.6 | ||||||
Dividends paid per share | $ | 0.16 | $ | 0.04 |