Motorola mobile shows profit in 3Q after 3 years
Motorola Mobiles manufacturing companies seems going through their best times with profits appearing in accounting records. First it was Samsung to declare huge profits this year and here comes Motorola next in line. Finally Motorola has come out of the dark phase prevailing since past three years.The Q3 results of Motorola showed good profits with company shipping out a total of 9.1 mobile phones out of which 3.8 million hand sets were smartphones.A total of 22 smartphone entered the market in 2010 and out of them Droid X, Droid 2 and Droid Pro have made a tremendous progress. MING has also shown real good performance in China.Out of the companies total sales of 4.7 billion USD, mobile division accounted for a total of 2 billion USD, which is simply commendable. Out of these 2 billion US dollars, 900 million hails from the US markets which is a hike of 5 per cent as compared to last years third quarter.If the profits are calculated as non-GAAP earnings is accounts to 3 million US dollars only, pretty squeezed. But when the profits are calculated following the GAAP guidelines the result comes out to be a loss of 43 million USD. But the results are still at better position as compared to the one in Q3 2009.the net earnings of the company has stretched up to 109 million USD which is around 10 times the 12 million USD in Q3 of the year 2009.Press Release:Financial Highlights:Third-quarter sales up year-over-year; first growth quarter since fourth quarter of 2006Third-quarter GAAP earnings of .05 per share, compared to GAAP earnings of .01 per share in third quarter of 2009Non-GAAP earnings per share*, including discontinued operations, of .16 compared to .06 per share in third quarter of 2009, exceeding the Company’s guidance of .10 — .12 per shareTotal cash** increased to $ 9.0 billion Mobile Devices sales of $ 2.0 billion; shipped 9.1 million handsets, including 3.8 million smartphones; GAAP operating loss of $ 43 million; non-GAAP operating earnings of $ 3 millionEnterprise Mobility Solutions sales of $ 1.9 billion; GAAP operating earnings of $ 253 million; non-GAAP operating earnings of $ 321 millionHome sales of $ 912 million; GAAP operating earnings of $ 49 million; non-GAAP operating earnings of $ 77 million
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