-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, W2BJwhb/A1qEapsfqVdAaeSww9HIiiD+FOgyhWq6bYwEMpvFBxV+Mhbu5kV8+M9k X8jL3FIbg/PDWElR25grdw== 0001104659-10-018302.txt : 20100405 0001104659-10-018302.hdr.sgml : 20100405 20100405082433 ACCESSION NUMBER: 0001104659-10-018302 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20100403 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20100405 DATE AS OF CHANGE: 20100405 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MOTOROLA INC CENTRAL INDEX KEY: 0000068505 STANDARD INDUSTRIAL CLASSIFICATION: RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663] IRS NUMBER: 361115800 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07221 FILM NUMBER: 10729426 BUSINESS ADDRESS: STREET 1: 1303 E ALGONQUIN RD CITY: SCHAUMBURG STATE: IL ZIP: 60196 BUSINESS PHONE: 8475765000 MAIL ADDRESS: STREET 1: 1303 EAST ALGONQUIN ROAD CITY: SCHAUMBURG STATE: IL ZIP: 60196 FORMER COMPANY: FORMER CONFORMED NAME: MOTOROLA DELAWARE INC DATE OF NAME CHANGE: 19760414 8-K 1 a10-7308_18k.htm 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 


 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of report (Date of earliest event reported): April 3, 2010

 

Motorola, Inc.

(Exact Name of Registrant as Specified in Charter)

 

DELAWARE

(State or Other Jurisdiction of Incorporation)

 

1-7221

 

36-1115800

(Commission File Number)

 

(IRS Employer Identification No.)

 

 

 

1303 East Algonquin Road

 

 

Schaumburg, Illinois

 

60196

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code: (847) 576-5000

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

Explanatory Note:

 

This Form 8-K presents previously reported selected GAAP financial information of Motorola, Inc. for fiscal years 2007, 2008 and 2009 in a reclassified format to reflect: 1) the revised presentation of the Company’s operating business segments as a result of a realigned business structure, and 2) the reclassification of certain costs, previously recorded as Corporate expenses, from Other and Eliminations to the operating business segments.  These changes do not affect the consolidated Motorola, Inc. amounts previously reported in the Company’s consolidated balance sheets or consolidated statements of operations, stockholders’ equity or cash flows in any prior period.  This Form 8-K is intended to assist investors in making comparisons of the Company’s historical financial information with future financial information.

 

The information in this Form 8-K that is furnished under “Item 2.02. Results of Operations and Financial Condition” and Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.

 

Item 2.02  Results of Operations and Financial Condition

 

On February 11, 2010, Motorola, Inc. (the “Company”) announced that the Company is targeting the first quarter of 2011 for the completion of its planned separation into two independent, publicly traded companies.  The Company currently expects that, upon separation, one public company will be comprised of the Company’s Mobile Devices and Home businesses and the other public company will be comprised of the Company’s Enterprise Mobility Solutions and Networks businesses.  Dr. Sanjay K. Jha, co-chief executive officer of Motorola, Inc., will serve as chief executive officer of the Mobile Devices and Home business, and Mr. Gregory Q. Brown, co-chief executive officer of Motorola, Inc., will serve as chief executive officer of the Enterprise Mobility Solutions and Networks business.  As a result of this announcement, Motorola, Inc. has realigned its businesses as of the first quarter of 2010 and will now report financial results for the following four operating business segments:

 

·                  Mobile Devices:  This segment designs, manufactures, sells and services wireless handsets, including smartphones, with integrated software and accessory products, and licenses intellectual property.

 

·                  Home:  This segment designs, manufactures, sells, installs and services digital video, Internet Protocol video and broadcast network interactive set-tops, end-to-end video distribution systems, broadband access infrastructure platforms, and associated data and voice customer premise equipment for cable television and telecom service providers.

 

·                  Enterprise Mobility Solutions:  This segment designs, manufactures, sells, installs and services analog and digital two-way radios, wireless LAN and security products, voice and data communications products and systems for private networks, wireless broadband systems and end-to-end enterprise mobility solutions.

 

·                  Networks:  This segment designs, manufactures, sells, installs and services wireless network systems, including cellular infrastructure systems and wireless and wireline cable and cellular broadband systems, for wireless service providers.

 

Additionally, prior to the first quarter of 2010, certain costs, including some elements of share-based compensation, intangible assets amortization expense, business-related asset impairments and other Corporate expenses, were recorded at Corporate and included in Other and Eliminations.  In addition to the business realignment discussed above, effective as of the first quarter of 2010, the Company will allocate the costs described above to the operating business segments.

 

Accordingly, previously reported selected GAAP financial information of the Company for fiscal years 2007, 2008 and 2009 has been revised to reflect: 1) the revised presentation of the Company’s operating business segments resulting from the realigned business structure, and 2) the reclassification of the costs discussed above from Other and Eliminations to the operating business segments.  These changes do not affect the consolidated Motorola, Inc. amounts previously reported in the Company’s consolidated balance sheets or consolidated statements of operations, stockholders’ equity or cash flows in any prior period.

 

2



 

Item 9.01 Financial Statements and Exhibits

 

(d) Exhibits

 

The following is furnished as an Exhibit to this Report:

 

Exhibit 99.1       Revised Segment Information tables for fiscal years 2007, 2008 and 2009, by quarter and for each full year.

 

3



 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

MOTOROLA, INC.

 

 

 

Date: April 5, 2010

By:

/s/  JOHN K. WOZNIAK

 

 

John K. Wozniak

 

 

Corporate Vice President

 

 

and Chief Accounting Officer

 

4



 

EXHIBIT INDEX

 

Exhibit No.

 

Document

 

 

 

99.1

 

Revised Segment Information tables for fiscal years 2007, 2008 and 2009, by quarter and for each full year.

 

5


 

EX-99.1 2 a10-7308_1ex99d1.htm EX-99.1

Exhibit 99.1

 

Motorola, Inc. and Subsidiaries

Segment Information

(In millions)

 

Summarized below are the Company’s GAAP Net Sales reflecting the revised presentation of the Company’s operating business segments.

 

 

 

GAAP Net Sales

 

 

 

Quarter Ended

 

Quarter Ended

 

Quarter Ended

 

Quarter Ended

 

Year Ended

 

 

 

April 4, 2009

 

July 4, 2009

 

October 3, 2009

 

December 31, 2009

 

December 31, 2009

 

 

 

 

 

 

 

 

 

 

 

 

 

Mobile Devices

 

$

1,801

 

$

1,829

 

$

1,692

 

$

1,824

 

$

7,146

 

Home

 

1,025

 

1,013

 

866

 

1,000

 

3,904

 

Enterprise Mobility Solutions

 

1,599

 

1,685

 

1,770

 

1,954

 

7,008

 

Networks

 

966

 

988

 

1,141

 

964

 

4,059

 

Segment Totals

 

5,391

 

5,515

 

5,469

 

5,742

 

22,117

 

Other and Eliminations

 

(20

)

(18

)

(16

)

(19

)

(73

)

Company Totals

 

$

5,371

 

$

5,497

 

$

5,453

 

$

5,723

 

$

22,044

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP Net Sales

 

 

 

Quarter Ended

 

Quarter Ended

 

Quarter Ended

 

Quarter Ended

 

Year Ended

 

 

 

March 29, 2008

 

June 28, 2008

 

September 27, 2008

 

December 31, 2008

 

December 31, 2008

 

 

 

 

 

 

 

 

 

 

 

 

 

Mobile Devices

 

$

3,299

 

$

3,334

 

$

3,116

 

$

2,350

 

$

12,099

 

Home

 

1,162

 

1,376

 

1,138

 

1,236

 

4,912

 

Enterprise Mobility Solutions

 

1,806

 

2,042

 

2,030

 

2,215

 

8,093

 

Networks

 

1,221

 

1,362

 

1,231

 

1,360

 

5,174

 

Segment Totals

 

7,488

 

8,114

 

7,515

 

7,161

 

30,278

 

Other and Eliminations

 

(40

)

(32

)

(35

)

(25

)

(132

)

Company Totals

 

$

7,448

 

$

8,082

 

$

7,480

 

$

7,136

 

$

30,146

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP Net Sales

 

 

 

Quarter Ended

 

Quarter Ended

 

Quarter Ended

 

Quarter Ended

 

Year Ended

 

 

 

March 31, 2007

 

June 30, 2007

 

September 29, 2007

 

December 31, 2007

 

December 31, 2007

 

 

 

 

 

 

 

 

 

 

 

 

 

Mobile Devices

 

$

5,408

 

$

4,273

 

$

4,496

 

$

4,811

 

$

18,988

 

Home

 

1,036

 

1,124

 

956

 

1,115

 

4,231

 

Enterprise Mobility Solutions

 

1,717

 

1,920

 

1,954

 

2,138

 

7,729

 

Networks

 

1,301

 

1,440

 

1,433

 

1,609

 

5,783

 

Segment Totals

 

9,462

 

8,757

 

8,839

 

9,673

 

36,731

 

Other and Eliminations

 

(29

)

(25

)

(28

)

(27

)

(109

)

Company Totals

 

$

9,433

 

$

8,732

 

$

8,811

 

$

9,646

 

$

36,622

 

 



 

Motorola, Inc. and Subsidiaries

Segment Information

(In millions)

 

Summarized below are the Company’s GAAP Operating Earnings (Loss) reflecting 1) the revised presentation of the Company’s operating business segments and 2) the allocation to the segments of certain Corporate costs previously included in Other and Eliminations.

 

 

 

GAAP Operating Earnings (Loss)

 

 

 

Quarter Ended

 

Quarter Ended

 

Quarter Ended

 

Quarter Ended

 

Year Ended

 

 

 

April 4, 2009

 

July 4, 2009

 

October 3, 2009

 

December 31, 2009

 

December 31, 2009

 

 

 

 

 

 

 

 

 

 

 

 

 

Mobile Devices

 

$

(545

)

$

(287

)

$

(216

)

$

(167

)

$

(1,215

)

Home

 

3

 

18

 

20

 

(25

)

16

 

Enterprise Mobility Solutions

 

66

 

141

 

224

 

283

 

714

 

Networks

 

62

 

92

 

139

 

73

 

366

 

Segment Totals

 

(414

)

(36

)

167

 

164

 

(119

)

Other and Eliminations

 

(35

)

46

 

(39

)

(1

)

(29

)

Company Totals

 

$

(449

)

$

10

 

$

128

 

$

163

 

$

(148

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP Operating Earnings (Loss)

 

 

 

Quarter Ended

 

Quarter Ended

 

Quarter Ended

 

Quarter Ended

 

Year Ended

 

 

 

March 29, 2008

 

June 28, 2008

 

September 27, 2008

 

December 31, 2008

 

December 31, 2008

 

 

 

 

 

 

 

 

 

 

 

 

 

Mobile Devices

 

$

(469

)

$

(393

)

$

(879

)

$

(691

)

$

(2,432

)

Home

 

68

 

117

 

66

 

89

 

340

 

Enterprise Mobility Solutions

 

153

 

280

 

190

 

(1,191

)

(568

)

Networks

 

29

 

77

 

152

 

118

 

376

 

Segment Totals

 

(219

)

81

 

(471

)

(1,675

)

(2,284

)

Other and Eliminations

 

(50

)

(76

)

19

 

 

(107

)

Company Totals

 

$

(269

)

$

5

 

$

(452

)

$

(1,675

)

$

(2,391

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP Operating Earnings (Loss)

 

 

 

Quarter Ended

 

Quarter Ended

 

Quarter Ended

 

Quarter Ended

 

Year Ended

 

 

 

March 31, 2007

 

June 30, 2007

 

September 29, 2007

 

December 31, 2007

 

December 31, 2007

 

 

 

 

 

 

 

 

 

 

 

 

 

Mobile Devices

 

$

(299

)

$

(409

)

$

(361

)

$

(466

)

$

(1,535

)

Home

 

119

 

95

 

36

 

77

 

327

 

Enterprise Mobility Solutions

 

(61

)

194

 

242

 

360

 

735

 

Networks

 

(6

)

34

 

70

 

63

 

161

 

Segment Totals

 

(247

)

(86

)

(13

)

34

 

(312

)

Other and Eliminations

 

(119

)

(72

)

3

 

(53

)

(241

)

Company Totals

 

$

(366

)

$

(158

)

$

(10

)

$

(19

)

$

(553

)

 


 

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