14 DAY TRIAL // Mobile phone maker Motorola has just announced its financial results for the fourth quarter of the last year, and posted net revenues of $3.4 billion for the time frame, along with GAAP earnings of $80 million, or .27 per share. Compared to the fourth quarter of 2009, the revenues were 21 percent up.
For the entire year 2010, the company announced net revenues of $11.5 billion, up 4 percent from the previous year. The GAAP loss for the year was of .29 per share, down from a loss of $4.56 per share in 2009.
According to the company, it managed to generate positive operating cash flow of $225 million during the fourth quarter of the year ($606 million for the entire year)
At the same time, Motorola Mobility announced that it has received $3.2 billion in cash related to the separation from Motorola, Inc, completed in the beginning of the ongoing year.
“The improvement in our financial results last year, including profitability in the fourth quarter, is indicative of the progress we have made in delivering innovative smartphones and improving the Mobile Devices business,” said Sanjay Jha, chairman and chief executive officer of Motorola Mobility.
“Our Home business performed well and remains a premier provider of digital set-tops and end-to-end video solutions. With the global opportunities ahead, along with our diversified portfolio, our brand, and our people, we are well positioned to grow, and further improve our financial results in 2011.”
For the mobile devices segment, the company announced revenues of $2.4 billion for the fourth quarter of the year, up 33 percent on a yearly basis. GAAP operating earnings reached $72 million, up from a loss of $166 million in the fourth quarter of 2009.
Net revenues were $7.8 billion for the entire year, marking an increase of 9 percent compared to the previous year.
“The 2010 GAAP operating loss was reduced to $76 million from an operating loss of $1.2 billion in 2009. The 2010 non-GAAP operating loss was reduced to $198 million from an operating loss of $923 million in 2009,” the company continues.
Motorola Mobility also announced smartphone shipments of 4.9 million during the fourth quarter of the last year, with 13.7 million units shipped during the entire year.
The total handset volume shipments for the quarter was of 11.3 million (feature phones and smartphones included), and reached 37.3 million for the entire year.
When looking at the first quarter of the ongoing year, the company does not seem too optimistic. They forecast a net loss of $26 million to $62 million for the period, with a net loss per share of .09 to .21.