Motorola Still Posting Sales Declines, Operating Losses

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Mountain View, Calif. – Cellular sales at Google’s Motorola Mobile division continue to fall, and the cellular operation continues to lose money, Google’s fourth-quarter financial report shows.

Motorola Mobile revenues were $1.51 billion in the fourth quarter and $4.14 billion for the second, third and fourth quarters under Google ownership, Google’s financial report shows. With $2.2 billion in first-quarter 2012 sales are factored in from the financial reports of an independent Motorola, Motorola Mobile’s full-year 2012 sales were $6.33 billion, down 33 percent from $2011’s $9.5 billion.

Google purchased Motorola in May 2012.

The numbers exclude the Motorola Home business, which Google said in December that it is selling off to Arris Group.

In the fourth quarter, Motorola’s cellular operating losses came to $353 million on a GAAP basis and $152 million on a non-GAAP basis after taking out $178 million in restructuring charges and $23 million in stock-based compensation expenses.

The cellular business also posted operating losses in each of the preceding quarters in 2012 and for the full fiscal year of 2011, previous financial reports show.

For fiscal 2012, full-year operating losses for Motorola’s cellular business came to $1.02 billion, based on a first-quarter financial report from an independent Motorola and on Google’s second-, third-, and fourth-quarter reports.

Motorola Mobile’s fourth-quarter revenues accounted for 11 percent of Google’s consolidated revenues.


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