Motorola Announces Record Third-Quarter Sales and Earnings - Oct 18, 2005 04:01 PM (PR Newswire)
Third-Quarter 2005 Financial Highlights
- Sales up 26 percent: Record sales of $9.42 billion, compared to third-quarter 2004 sales of $7.50 billion
- Earnings from continuing operations of $.69 per share, including earnings of $.39 per share from significant items discussed below
- Global mobile device market share up 5.5 percentage points: Achieved an estimated global market share of approximately 19 percent, an increase of approximately 5.5 percentage points versus the year-ago quarter and approximately 1 percentage point versus the second quarter of 2005
- Record Mobile Device shipments of 38.7 million units
- Positive operating cash flow of $1.1 billion
SCHAUMBURG, Ill., Oct. 18 /PRNewswire-FirstCall/ -- Motorola, Inc. (NYSE:MOT) today reported record sales and earnings from continuing operations as shown below.
Third Quarter % 2005 2004 Increase Sales $9.42B $7.50B 26% EPS $0.69 $0.18 283%
Third-quarter 2005 earnings from continuing operations include income of $.39 per share from the items shown below.
Third-Quarter 2005 EPS Impact
Gain on Nextel stock and related hedge adjustments $0.32 Tax benefits related to the repatriation of cash and the divestiture of a business 0.13 Debt retirement costs (0.03) Reorganization of businesses (0.03) Total EPS Impact $0.39
During the quarter, the company continued to strengthen its balance sheet. The company generated operating cash flow of $1.1 billion, its
19th consecutive quarter of positive operating cash flow. In addition, the company reduced its total debt by $1.0 billion through repurchases of long-term debt in the market. Also, the company purchased $353 million of its outstanding shares pursuant to a previously announced and ongoing share repurchase program. The company ended the quarter with a record net cash(1) position of $8.4 billion.
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