EX-99.1 3 a2091204zex-99_1.htm EXHIBIT 99.1
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Exhibit 99.1


Motorola, Inc. and Subsidiaries

Consolidated Statements of Operations

(In millions, except per share amounts)

 
   For the Quarter Ended March 31, 2001
  
 
   GAAP Results
   Special
Items
Inc/(Exp)
   Excluding
Special Items
   Exited
Businesses
Inc/(Exp)
   Ongoing
Operations
Excluding
Special Items
  
Net sales   $ 7,683   $ —   $ 7,683   $ 197   $ 7,486  
Costs of sales     6,063     (524 )   5,539     (135 )   5,404  
   
 
 
 
 
 
Gross margin     1,620     (524 )   2,144     62     2,082  

Selling, general and administrative expenses
 
 
1,241
 
 
(27
)
 
1,214
 
 
(42
)
 
1,172
 
Research and development expenses     1,172     —     1,172     (11 )   1,161  
Reorganization of businesses     241     (241 )   —     —     —  
Other charges     72     (72 )   —     —     —  
   
 
 
 
 
 
Operating earnings (loss)     (1,106 )   (864 )   (242 )   9     (251 )

Other income/(expense)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Interest expense, net     (61 )   —     (61 )   (2 )   (59 )
  Gains on sales of investments and businesses     614     614     —     —     —  
  Other     (38 )   (29 )   (9 )   —     (9 )
   
 
 
 
 
 
Earnings (loss) before income taxes     (591 )   (279 )   (312 )   7     (319 )
Income tax provision     (58 )   (48 )   (106 )   (2 )   (108 )
   
 
 
 
 
 
Net earnings (loss)   $ (533 ) $ (327 ) $ (206 ) $ 5   $ (211 )
   
 
 
 
 
 

Net loss per common share
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Basic   $ (0.24 )                   $ (0.10 )
  Diluted   $ (0.24 )                   $ (0.10 )

Weighted average common shares outstanding
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Basic     2,194.0                       2,194.0  
  Diluted     2,194.0                       2,194.0  

Dividends paid per share
 
$
0.04
 
 
 
 
 
 
 
 
 
 
$
0.04
 
Net margin on sales     -6.9 %                     -2.8 %
Return on average invested capital     1.5 %                        


Motorola, Inc. and Subsidiaries

Consolidated Statements of Operations

(In millions, except per share amounts)

 
   For the Quarter Ended June 30, 2001
  
 
   GAAP Results
   Special
Items
Inc/(Exp)
   Excluding
Special Items
   Exited
Businesses
Inc/(Exp)
   Ongoing
Operations
Excluding
Special Items
  
Net sales   $ 7,486   $ —   $ 7,486   $ 194   $ 7,292  
Costs of sales     5,765     (307 )   5,458     (134 )   5,324  
   
 
 
 
 
 
Gross margin     1,721     (307 )   2,028     60     1,968  

Selling, general and administrative expenses
 
 
1,214
 
 
(19
)
 
1,195
 
 
(37
)
 
1,158
 
Research and development expenses     1,086     —     1,086     (12 )   1,074  
Reorganization of businesses     619     (619 )   —     —     —  
Other charges     99     (99 )   —     —     —  
   
 
 
 
 
 
Operating earnings (loss)     (1,297 )   (1,044 )   (253 )   11     (264 )

Other income/(expense)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Interest expense, net     (104 )   —     (104 )   (2 )   (102 )
  Gains on sales of investments and businesses     742     742     —     —     —  
  Other     (189 )   (194 )   5     —     5  
   
 
 
 
 
 
Earnings (loss) before income taxes     (848 )   (496 )   (352 )   9     (361 )
Income tax provision     (89 )   (31 )   (120 )   (3 )   (123 )
   
 
 
 
 
 
Net earnings (loss)   $ (759 ) $ (527 ) $ (232 ) $ 6   $ (238 )
   
 
 
 
 
 

Net loss per common share
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Basic   $ (0.35 )                   $ (0.11 )
  Diluted   $ (0.35 )                   $ (0.11 )

Weighted average common shares outstanding
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Basic     2,202.9                       2,202.9  
  Diluted     2,202.9                       2,202.9  

Dividends paid per share
 
$
0.04
 
 
 
 
 
 
 
 
 
 
$
0.04
 
Net margin on sales     -10.1 %                     -3.3 %


Motorola, Inc. and Subsidiaries

Consolidated Statements of Operations

(In millions, except per share amounts)

 
   For the Quarter Ended September 29, 2001
  
 
   GAAP Results
   Special
Items
Inc/(Exp)
   Excluding
Special Items
   Exited
Businesses
Inc/(Exp)
   Ongoing
Operations
Excluding
Special Items
  
Net sales   $ 7,392   $ —   $ 7,392   $ 162   $ 7,230  
Costs of sales     5,476     (98 )   5,378     (117 )   5,261  
   
 
 
 
 
 
Gross margin     1,916     (98 )   2,014     45     1,969  

Selling, general and administrative expenses
 
 
1,121
 
 
(39
)
 
1,082
 
 
(28
)
 
1,054
 
Research and development expenses     1,037     —     1,037     (8 )   1,029  
Reorganization of businesses     133     (133 )   —     —     —  
Other charges     1,408     (1,408 )   —     —     —  
   
 
 
 
 
 
Operating earnings (loss)     (1,783 )   (1,678 )   (105 )   9     (114 )

Other income/(expense)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Interest expense, net     (140 )   (22 )   (118 )   (2 )   (116 )
  Gains on sales of investments and businesses     542     542     —     —     —  
  Other     (838 )   (830 )   (8 )   —     (8 )
   
 
 
 
 
 
Earnings (loss) before income taxes     (2,219 )   (1,988 )   (231 )   7     (238 )
Income tax provision     (811 )   733     (78 )   (2 )   (80 )
   
 
 
 
 
 
Net earnings (loss)   $ (1,408 ) $ (1,255 ) $ (153 ) $ 5   $ (158 )
   
 
 
 
 
 

Net loss per common share
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Basic   $ (0.64 )                   $ (0.07 )
  Diluted   $ (0.64 )                   $ (0.07 )

Weighted average common shares outstanding
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Basic     2,217.1                       2,217.1  
  Diluted     2,217.1                       2,217.1  

Dividends paid per share
 
$
0.04
 
 
 
 
 
 
 
 
 
 
$
0.04
 
Net margin on sales     -19.0 %                     -2.2 %


Motorola, Inc. and Subsidiaries

Consolidated Statements of Operations

(In millions, except per share amounts)

 
   For the Quarter Ended December 31, 2001
  
 
   GAAP Results
   Special
Items
Inc/(Exp)
   Excluding
Special Items
   Exited
Businesses
Inc/(Exp)
   Ongoing
Operations
Excluding
Special Items
  
Net sales   $ 7,312   $ —   $ 7,312   $ —   $ 7,312  
Costs of sales     5,357     (152 )   5,205     —     5,205  
   
 
 
 
 
 
Gross margin     1,955     (152 )   2,107     —     2,107  

Selling, general and administrative expenses
 
 
1,147
 
 
(40
)
 
1,107
 
 
—
 
 
1,107
 
Research and development expenses     1,023     —     1,023     —     1,023  
Reorganization of businesses     865     (865 )   —     —     —  
Other charges     537     (537 )   —     —     —  
   
 
 
 
 
 
Operating loss     (1,617 )   (1,594 )   (23 )   —     (23 )

Other income/(expense)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Interest expense, net     (108 )   —     (108 )   —     (108 )
  Gains on sales of investments and businesses     33     33     —     —     —  
  Other     (161 )   (159 )   (2 )   —     (2 )
   
 
 
 
 
 
Loss before income taxes     (1,853 )   (1,720 )   (133 )   —     (133 )
Income tax provision     (616 )   573     (43 )   —     (43 )
   
 
 
 
 
 
Net loss   $ (1,237 ) $ (1,147 ) $ (90 ) $ —   $ (90 )
   
 
 
 
 
 

Net loss per common share
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Basic   $ (0.55 )                   $ (0.04 )
  Diluted   $ (0.55 )                   $ (0.04 )

Weighted average common shares outstanding
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Basic     2,236.8                       2,236.8  
  Diluted     2,236.8                       2,236.8  

Dividends paid per share
 
$
0.04
 
 
 
 
 
 
 
 
 
 
$
0.04
 
Net margin on sales     -16.9 %                     -1.2 %


Motorola, Inc. and Subsidiaries

Consolidated Statements of Operations

(In millions, except per share amounts)

 
   For the Year Ended December 31, 2001
  
 
   GAAP Results
   Special
Items
Inc/(Exp)
   Excluding
Special Items
   Exited
Businesses
Inc/(Exp)
   Ongoing
Operations
Excluding
Special Items
  
Net sales   $ 29,873   $ —   $ 29,873   $ 553   $ 29,320  
Costs of sales   $ 22,661   $ (1,081 ) $ 21,580   $ (386 )   21,194  
   
 
 
 
 
 
Gross margin     7,212     (1,081 )   8,293     167     8,126  

Selling, general and administrative expenses
 
 
4,723
 
 
(125
)
 
4,598
 
 
(107
)
 
4,491
 
Research and development expenses     4,318     —     4,318     (31 )   4,287  
Reorganization of businesses     1,858     (1,858 )   —     —     —  
Other charges     2,116     (2,116 )   —     —     —  
   
 
 
 
 
 
Operating earnings (loss)     (5,803 )   (5,180 )   (623 )   29     (652 )

Other income/(expense)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Interest expense, net     (413 )   (22 )   (391 )   (6 )   (385 )
  Gains on sales of investments and businesses     1,931     1,931     —     —     —  
  Other     (1,226 )   (1,212 )   (14 )   —     (14 )
   
 
 
 
 
 
Earnings (loss) before income taxes     (5,511 )   (4,483 )   (1,028 )   23     (1,051 )
Income tax provision     (1,574 )   1,227     (347 )   (7 )   (354 )
   
 
 
 
 
 
Net earnings (loss)   $ (3,937 ) $ (3,256 ) $ (681 ) $ 16   $ (697 )
   
 
 
 
 
 

Net loss per common share
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Basic   $ (1.78 )                   $ (0.31 )
  Diluted   $ (1.78 )                   $ (0.31 )

Weighted average common shares outstanding
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Basic     2,213.3                       2,213.3  
  Diluted     2,213.3                       2,213.3  

Dividends paid per share
 
$
0.16
 
 
 
 
 
 
 
 
 
 
$
0.16
 
Net margin on sales     -13.2 %                     -2.4 %
Return on average invested capital     -18.0 %                        


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Motorola, Inc. and Subsidiaries Consolidated Statements of Operations (In millions, except per share amounts)
Motorola, Inc. and Subsidiaries Consolidated Statements of Operations (In millions, except per share amounts)
Motorola, Inc. and Subsidiaries Consolidated Statements of Operations (In millions, except per share amounts)
Motorola, Inc. and Subsidiaries Consolidated Statements of Operations (In millions, except per share amounts)
Motorola, Inc. and Subsidiaries Consolidated Statements of Operations (In millions, except per share amounts)