EX-99.1 2 c06544exv99w1.htm ADJUSTED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS exv99w1
 

Exhibit 99.1
Motorola, Inc. and Subsidiaries
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)
                 
    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