Motorola 2011 Annual Report Download - page 3

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MARCH 2012
WHAT A DIFFERENCE ONE YEAR MAKES
On Jan. 4, 2011, the former mobile devices and home businesses were spun off as a
separate company (Motorola Mobility Holdings, Inc.), and we carried on Motorola’s
83-year history of innovation as Motorola Solutions. As a result, what I have always
considered to be the “crown jewel” of Motorola was fi nally realized.
Today, we have a sharpened strategic focus and a compelling purpose: We help
people be their best in the moments that matter. We have a long history of industry
leadership, a strong patent portfolio and a strong global presence with more than
100,000 customers in 100 countries and approximately 23,000 employees in
65 countries.
Our strong fi nancial results refl ect the pride and commitment I see every day from every area of our great company.
Motorola Solutions is well positioned to grow and expand in the markets we serve. Our strategy is focused on providing
mission-critical communication solutions to our government and enterprise customers. We continue to innovate and
deepen our market-leading product portfolio, and our sales growth validates our focus on new product innovation and
solutions that deliver a high return on investment for our customers.
We have a very strong balance sheet, which provides a solid foundation and fl exibility to help our company thrive in the
years ahead. We also are better positioned to access capital markets in a way that complements our growth strategies,
and we are making signifi cant progress in establishing an appropriate capital structure for our unique business needs.
Here are just a few of the highlights from our fi rst year operating as Motorola Solutions:
MOTOROLA SOLUTIONS 2011 HIGHLIGHTS
• Sales increased 8 percent, with growth in both our government and enterprise businesses despite a challenging
global economy.
• Sales grew in all of our regions.
• We took two important actions to return capital to our shareholders by initiating a quarterly cash dividend of
$0.22 per share and approving what is now a $3 billion share repurchase program through the end of 2012.
• We retired approximately $1.1 billion of debt, while repatriating about $1.9 billion from international locations.
• The divestiture of our Networks business to Nokia Siemens Networks provided additional strategic clarity to our
portfolio and net cash proceeds of approximately $1 billion.
• We divested our point-to-point (Orthogon) and point-to-multipoint (Canopy) businesses and completed the acquisition
of Rhomobile, a mobile application development platform company.
• We achieved solid investment-grade ratings from the three major rating agencies.
GREG BROWN
Chairman & CEO