Motorola Beats Estimates on Strong Demand and Surging Profits

Posted by on Jul 29, 2010 | No comment

Motorola Inc. (NYSE: MOT) today announced its second-quarter financial results. The Schaumburg, Illinois-based Company reported sales of $5.4 billion, for the second-quarter of 2010. The company reported second-quarter GAAP earnings of $162 million, or $0.07 per share, compared with $26 million, or $0.01 per share reported for the same period last year.

Second-quarter sales for the company’s Mobile Device segment stood at $1.7 billion, down 6% from the same period last year. GAAP operating earnings for the Mobile Device segment were $87 million in the second quarter of 2010. For the same period last year, the Mobile Device segment had reported an operating loss of $287 million. The segment reported non-GAAP operating loss of $109 million, compared with a non-GAAP operating loss of $239 million reported for the second quarter of 2009.

Motorola’s Home segment reported second-quarter sales of $886 million, down 13% from the same period last year. The segment’s GAAP operating earnings, for the second quarter of 2010, stood at $29 million, compared with $18 million reported for the same period last year. Non-GAAP operating earnings for the second quarter came in at $57 million, compared with $49 million reported for the same period last year.

Second-quarter sales at Motorola’s Enterprise Mobility Solutions segment were $1.9 billion, up 10% from the same period last year. The segment’s GAAP operating earnings were $181 million, for the second quarter of 2010, compared with $141 million reported for the same period last year.

Meanwhile, Motorola’s Networks segment reported second-quarter sales of $967 million, down 2% from the same period last year. The segment’s GAAP operating earnings were $178 million, compared with $92 million reported for the same period last year.

In the second quarter of 2010, Motorola generated positive operating cash flow of $242 million. The company reported a sequential increase of $300 million in net cash to $4.9 billion.

Greg Brown, Motorola’s co-chief executive officer and CEO of Motorola Solutions, said that the company’s Enterprise Mobility Solutions and Networks businesses continued to deliver best-in-class market leadership and financial returns, in the second quarter of 2010.

For the third quarter of 2010, Motorola expects earnings of $0.10-$0.12 per share.

Shares of Motorola Inc. are seeing huge activity in today’s trading. The stock reached a high of $8.03 today. At last check, it was up 1.95% to $7.83, with volume up from daily average of 31.78 million to 37.36 million.

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BeaconEquity.com is committed to producing the highest-quality insight and analysis of small-cap stocks, emerging technology stocks, hot penny stocks and helping investors make informed decisions. Our focus is primarily OTC stocks in the stock market today, which have traditionally been shunned by Wall Street. We have particular expertise with renewable energy stocks, biotech stocks, oil stocks, green energy stocks and internet stocks. There are many hot penny stock opportunities present in the OTC market everyday and we seek to exploit these hot stock gains for our members before the average daytrader is aware of them.

Beacon Equity Group Disclaimer

This newsletter is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Beaconequity.com is a wholly-owned subsidiary of BlueWave Advisors.

While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

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