Motorola 2008 Annual Report Download - page 91

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Motorola, Inc. and Subsidiaries
Consolidated Statements of Operations
(In millions, except per share amounts) 2008 2007 2006
Years Ended December 31
Net sales $ 30,146 $ 36,622 $ 42,847
Costs of sales 21,751 26,670 30,120
Gross margin 8,395 9,952 12,727
Selling, general and administrative expenses 4,330 5,092 4,504
Research and development expenditures 4,109 4,429 4,106
Other charges 2,347 984 25
Operating earnings (loss) (2,391) (553) 4,092
Other income (expense):
Interest income, net 48 91 326
Gains on sales of investments and businesses, net 82 50 41
Other (376) 22 151
Total other income (expense) (246) 163 518
Earnings (loss) from continuing operations before income taxes (2,637) (390) 4,610
Income tax expense (benefit) 1,607 (285) 1,349
Earnings (loss) from continuing operations (4,244) (105) 3,261
Earnings from discontinued operations, net of tax — 56 400
Net earnings (loss) $ (4,244) $ (49) $ 3,661
Earnings (loss) per common share:
Basic:
Continuing operations $ (1.87) $ (0.05) $ 1.33
Discontinued operations — 0.03 0.17
$ (1.87) $ (0.02) $ 1.50
Diluted:
Continuing operations $ (1.87) $ (0.05) $ 1.30
Discontinued operations — 0.03 0.16
$ (1.87) $ (0.02) $ 1.46
Weighted average common shares outstanding:
Basic 2,265.4 2,312.7 2,446.3
Diluted 2,265.4 2,312.7 2,504.2
Dividends paid per share $ 0.20 $ 0.20 $ 0.18
See accompanying notes to consolidated financial statements.
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