Motorola 2004 Annual Report Download - page 3
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Please find page 3 of the 2004 Motorola annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.FellowStockholders,
AsIclosemyfirstfullyearasCEOofMotorola,Ilookbackwithgratificationat
2004–AYearofProgress.
Wegainedmomentumonmanyfronts–sales,earnings,cashflowandmarketshare.
Wefocusedonmeetingcustomercommitmentswithqualityasthepivotalthemein
everyproductwedeliver,everysingleday.Wecapturedtheworld’sattentionwithiconic
productsliketheRAZR,thethinnestmobiledeviceevermade,thatisbothanengineering
andadesignmarvel.OurvisionaroundSeamlessMobilityisredefiningthefutureof
mobilecommunications.
Theprogresswemadein2004isjustthebeginning,aswecontinuetodeliverincreased
valuetoourshareholders.Wearemovingaheadonthepathtotransformthisgreat
companyintothegreatestcompany–withvision,consistentperformanceandsuperior
financialresults.
MOTOMOMENTUM
Letmesharesomespecifichighlightsfor2004.
Earningsfromcontinuingoperationsincreased136%whilerevenuegrew35%from
thepreviousyear.Marketshareincreasedinmostofourbusinesses,especiallyin
mobiledevices.Ourbalancesheet,withmorethan$5billioninnetcash,isthebestit
hasbeeninourhistory.On-timelaunchesofgreatnewproductswithimprovedquality
delightedmanyofourcustomers.Everymemberofmymanagementteamisnowheld
accountableforafewofourkeycustomeraccountstoensurethatweneverlose
sightofourcommitments.
Justasimportantasouroperationalimprovements,ourorganizationalstructurewas
alignedtoimplementkeystrategiesaroundourvision.Wesimplifiedourmarketfocus
andeliminatedredundanciesbyconsolidatingintofourintegratedbusinessunits–mobile
devices,networks,government&enterpriseandconnectedhome.Supportfunctionsare
streamlinedtoreducecostanddrivecommonbusinessprocessesacrossthecompany.
Weinvestedinourcorecompetencies,includingtechnology,brandandmarketing.
Wemoveinto2005asanimbler,higher-performanceteam.Withoutadoubt,noneofthis
wouldhavebeenpossiblewithoutthehardworkanddedicationoftalentedMotorolans
worldwide.
continued –
March2005