TELECOM Digest OnLine - Sorted: Motorola Announces Record Third-Quarter Sales and Earnings

Motorola Announces Record Third-Quarter Sales and Earnings

Monty Solomon (
Wed, 19 Oct 2005 00:58:59 -0400

Motorola Announces Record Third-Quarter Sales and Earnings
- Oct 18, 2005 04:01 PM (PR Newswire)

Third-Quarter 2005 Financial Highlights

- Sales up 26 percent: Record sales of $9.42 billion, compared to
third-quarter 2004 sales of $7.50 billion

- Earnings from continuing operations of $.69 per share, including
earnings of $.39 per share from significant items discussed below

- Global mobile device market share up 5.5 percentage points:
Achieved an estimated global market share of approximately 19
percent, an increase of approximately 5.5 percentage points
versus the year-ago quarter and approximately 1 percentage
point versus the second quarter of 2005

- Record Mobile Device shipments of 38.7 million units

- Positive operating cash flow of $1.1 billion

SCHAUMBURG, Ill., Oct. 18 /PRNewswire-FirstCall/ -- Motorola, Inc.
(NYSE:MOT) today reported record sales and earnings from continuing
operations as shown below.

Third Quarter %
2005 2004 Increase
Sales $9.42B $7.50B 26%
EPS $0.69 $0.18 283%

Third-quarter 2005 earnings from continuing operations include income
of $.39 per share from the items shown below.

Third-Quarter 2005 EPS Impact

Gain on Nextel stock and
related hedge adjustments $0.32
Tax benefits related to the
repatriation of cash and the
divestiture of a business 0.13
Debt retirement costs (0.03)
Reorganization of businesses (0.03)
Total EPS Impact $0.39

During the quarter, the company continued to strengthen its balance
sheet. The company generated operating cash flow of $1.1 billion, its
19th consecutive quarter of positive operating cash flow. In
addition, the company reduced its total debt by $1.0 billion through
repurchases of long-term debt in the market. Also, the company
purchased $353 million of its outstanding shares pursuant to a
previously announced and ongoing share repurchase program. The
company ended the quarter with a record net cash(1) position of $8.4


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