Motorola Mobility net revenues up 2pc in Q1


2 May 2012

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Motorola Mobility's RAZR MAXX smartphone

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Mobile device maker Motorola Mobility’s net revenues climbed 2pc to US$3.1bn in the first quarter of 2012, compared to the same period last year.

The GAAP net loss in the first quarter of 2012 amounted to US$86m, or US$0.28 per share, compared to a net loss of US$81m, or US$0.27 per share, in the first quarter of 2011.

On a non-GAAP basis, the net loss in the first quarter of 2012 reached US$10m, or US$0.03 per share, compared to a net loss of US$25m, or US$0.08 per share, from the same time last year.

Motorola Mobility reported operating cash outflow of US$98m for the first quarter. Total cash at the end of the quarter totalled US$3.5bn and includes cash, cash equivalents, and cash deposits.

“The introduction of RAZR MAXX marked another successful addition to the Motorola product family and contributed to our growth in smartphones," said Sanjay Jha, chairman and chief executive officer, Motorola Mobility.

"Our Home business delivered another solid quarter (net revenues of US$884m) highlighted by improvement in year-over-year profitability.

“We continue to work closely with Google to complete the proposed merger during the first half of the year.”

Motorola Mobility operating results

Mobile Devices net revenues in the first quarter totalled US$2.2bn, up 3pc compared with the year-ago quarter.

The GAAP operating loss reached US$121m compared to an operating loss of US$89m from the same period last year.

The non-GAAP operating loss came to US$85m compared to an operating loss of US$61m in the year-ago quarter.

The company shipped a total of 8.9m mobile devices in the first quarter, including 5.1m smartphones.