Motorola 2011 Annual Report Download - page 114

Download and view the complete annual report

Please find page 114 of the 2011 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.

Page out of 131

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131

108
16. Quarterly and Other Financial Data (unaudited)*
2011 2010
1st 2nd 3rd 4th 1st 2nd 3rd 4th
Operating Results
Net sales $1,834 $1,984 $2,085 $2,300 $1,673 $1,869 $1,890 $2,185
Costs of sales 910 977 1,030 1,140 848 931 930 1,096
Gross margin 924 1,007 1,055 1,160 825 938 960 1,089
Selling, general and administrative
expenses 461 482 471 498 446 461 452 515
Research and development
expenditures 239 260 270 266 247 259 260 271
Other charges 55 106 60 120 21 64 34 31
Operating earnings 169 159 254 276 111 154 214 272
Earnings (loss) from continuing
operations** 367 50 153 177 92 (3) (12) 167
Net earnings** 497 349 128 184 69 162 110 292
Per Share Data (in dollars)
Continuing Operations:
Basic earnings (loss) per common
share $ 1.09 $ 0.15 $ 0.46 $ 0.55 $ 0.28 $ — $ (0.04) $ 0.50
Diluted earnings (loss) per common
share 1.07 0.14 0.45 0.54 0.28 — (0.04) 0.49
Net Earnings:
Basic earnings per common share 1.47 1.02 0.38 0.57 0.21 0.49 0.33 0.87
Diluted earnings per common share 1.44 1.00 0.38 0.56 0.21 0.49 0.33 0.86
Dividends declared — — 0.22 0.22 ————
Dividends paid — — — 0.22 ————
Stock prices***
High 44.69 47.87 46.37 47.41 57.82 54.25 61.18 64.26
Low 37.04 43.42 38.71 40.62 42.28 43.75 45.43 53.55
* Certain amounts in prior years’ financial statements and related notes have been reclassified to conform to the 2011 presentation.
** Amounts attributable to Motorola Solutions, Inc. common shareholders.
*** On January 4, 2011, in connection with the separation of Motorola Mobility from the Company, the Company completed a 1-for-7 reverse
stock split. Accordingly, all prices of our common stock prior to January 4, 2011 have been adjusted for the Reverse Stock Split and reflect
the then-current business of the Company, including Motorola Mobility.