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Motorola Mobility turns profit, warns of loss
|01 февраля 2011|
Motorola Mobility, the recently-formed spin-off from Motorola, has posted a GAAP profit of $80m for the fourth quarter of 2010, compared to a loss of $204m from one year previously.
The new firm is made up of two technology businesses—the Mobile Devices business, a provider of smartphone devices; and the Home business, a provider of digital set-top boxes and end-to-end video solutions. It started trading as an independent business at the beginning of 2011, while the remaining operations (which mostly provide enterprise solutions) now trade under the name of Motorola Solutions.
Motorola Mobility posted revenues of $3.4bn for the fourth quarter of 2010, up 21 per cent year-on-year. The company’s Mobile Devices segment posted net revenues of $2.4bn for the quarter, up 33 per cent on a yearly basis, while GAAP operating earnings reached $72m, compared to a loss of $166m one year previously.
The Home segment posted net revenues of $1bn for the three months to December 2010, up one per cent from one year previously, while GAAP operating earnings reached $54m, compared to a loss of $30m one year previously.
“The improvement in our financial results last year, including profitability in the fourth quarter, is indicative of the progress we have made in delivering innovative smartphones and improving the Mobile Devices business,” said Sanjay Jha, chairman and CEO of Motorola Mobility. “Our Home business performed well and remains a premier provider of digital set-tops and end-to-end video solutions. With the global opportunities ahead, along with our diversified portfolio, our brand, and our people, we are well positioned to grow, and further improve our financial results in 2011.”
The news was not all rosy, however. The firm reported that it expects to post a net loss of between $26m and $62m for the first quarter of 2011.