Motorola Posts Q1

Motorola announces record first-quarter sales and earnings

April 20, 2005

1 Min Read

SCHAUMBURG, Ill. -- Motorola, Inc. (NYSE:MOT) today reported record sales of $8.16 billion in the first quarter of 2005, an increase of 10 percent from sales of $7.44 billion in the first quarter of 2004, and reported record first-quarter earnings of $.28 per share, versus earnings from continuing operations of $.19 per share in the year-ago quarter. First-quarter 2005 earnings include pre-tax income of $234 million, or $.06 per share, from the sale of an investment. First-quarter 2004 earnings from continuing operations included pre-tax income of $143 million, or $.04 per share, from the sale of an investment and other items highlighted in that release. During the quarter, the company continued to strengthen its balance sheet, generating operating cash flow of $438 million and ending the quarter with a record net cash(1) position of $6.0 billion.

"Our strong performance during the first quarter exceeded our guidance," said Ed Zander, Chairman and CEO. "We continue to see positive responses to Motorola's innovative products and Seamless Mobility solutions from around the world. As a result, we achieved important market share gains in many of our businesses and in key high-growth geographies. Motorola's strong quarterly financial performance was evidenced by our 10% sales growth, our 48% growth in earnings from continuing operations and our 17th consecutive quarter of positive operating cash flow.

Furthermore, we see initial operating efficiencies resulting from our new, streamlined organization. We remain committed to further improving our performance in each of our core businesses and continuing to enhance value for our shareholders."

Motorola Inc.

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