ADD to BW0526, MOTOROLA-INC.--(BUSINESS WIRE)--Oct. 7, 1996-- ADD to BW0526 (MOTOROLA-INC) after the last graph graph, figure that shows relationships between quantities. The graph of a function y=f (x) is the set of points with coordinates [x, f (x)] in the xy-plane, when x and y are numbers. xxx "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The statements quoted in "Review and Outlook" and about cost-cutting actions and the Iridium iridium (ĭrĭd`ēəm), metallic chemical element; symbol Ir; at. no. 77; at. wt. 192.22; m.p. about 2,410°C;; b.p. about 4,130°C;; sp. gr. 22.55 at 20°C;; valence +3 or +4. L.L.C. financing negotiations are forward looking. The continuation continuation - continuation passing style of the conditions described at the beginning of this release and in "General Corporate" as well as continued or increased pricing pressures, competition or weakening weak·en tr. & intr.v. weak·ened, weak·en·ing, weak·ens To make or become weak or weaker. weak  en·er n. demand in semiconductors, product and
technology development and commercialization risks and uncertainties,
the outcome of such financing negotiations and the factors listed on
pages 11 and 12 of Motorola's Form 10-Q Form 10-QSee 10-Q. for the period ended June June: see month. 29, 1996, on pages F-10 and F-11 of Motorola's 1996 proxy statement Proxy Statement A document containing the information that a company is required by the SEC to provide to shareholders so they can make informed decisions about matters that will be brought up at an annual stockholder meeting. appendix appendix, small, worm-shaped blind tube, about 3 in. (7.6 cm) long and 1-4 in. to 1 in. (.64–2.54 cm) thick, projecting from the cecum (part of the large intestine) on the right side of the lower abdominal cavity. and in other SEC filings could cause Motorola's actual results to differ materially from those statements. -0-
Motorola, Inc. and Consolidated Subsidiaries
Statements of Consolidated Earnings (Unaudited)
(In millions, except per share amounts)
Three Months Ended Nine Months Ended
Sept. 28, Sept. 30, Sept. 28, Sept. 30,
1996 1995 1996 1995
Net sales $6,498 $6,851 $20,288 $19,739
Manufacturing and
other costs of sales 4,489 4,388 13,792 12,660
Selling, general and
admin. expenses 1,041 1,131 3,239 3,430
Depreciation expense 609 496 1,708 1,405
Interest expense, net 42 48 140 103
Total costs and expenses 6,181 6,063 18,879 17,598
Earnings before income
taxes 317 788 1,409 2,141
Income taxes provided
on earnings 111 292 493 792
Net earnings $ 206 $ 496 $ 916 $1,349
Net earnings per share
Fully Diluted (1):
Net earnings per share $ .34 $ .81 $ 1.51 $ 2.21
Avg. common and common
equivalent shares
outstanding - fully
diluted (in millions) 609.1 611.1 609.1 611.1
Earnings adjustment in
dilution calculation (2) $ 1 $ 1 $ 3 $ 4
Dividends paid per share $ .12 $ .10 $ .32 $ .30
Net margin on sales 3.2% 7.2% 4.5% 6.8%
Return on average
invested capital(3) 9.8% 16.3% ---- ----
R&D expenditures $ 617 $ 562 $ 1,798 $1,614
(1) Average primary common and common equivalent shares outstanding
for the three months and nine months ended Sept. 28, 1996 and
Sept. 30, 1995 were 609.0 million and 609.6 million, respectively.
Primary earnings per common and common equivalent share were $1.51
and $2.22 for the nine months ended Sept. 28, 1996 and Sept. 30,
1995, respectively and $.34 and $.81 for the third quarters ended
Sept. 28, 1996 and Sept. 30, 1995, respectively.
(2) Amount represents the total amount added to earnings in the
earnings dilution calculation. Included are amounts representing
interest expense which would not have been incurred if certain
convertible debt securities had been converted to common shares.
(3) Based on the performance of the four preceding quarters ending
with Sept. 28, 1996 and Sept. 30, 1995.
The sales and earnings results reported herein include, in the
opinion of management, all adjustments (consisting of
reclassifications and normal recurring adjustments) necessary for a
fair statement of income. The results for the quarter are not
necessarily indicative of the results to be expected for the full
year.
Motorola, Inc. and Consolidated Subsidiaries
Condensed Consolidated Balance Sheets (Unaudited)
(In millions)
ASSETS Sept. 28, Dec. 31,
1996 1995
Cash and cash equivalents $ 1,182 $ 725
Short-term investments 325 350
Accounts receivable, less allowance for
doubtful accounts (1996,$129; 1995,$123) 4,036 4,081
Inventories 3,422 3,528
Other current assets 1,850 1,826
Total current assets 10,815 10,510
Property, plant and equipment, less
accumulated depreciation
(1996, $9,389; 1995, $8,110) 9,746 9,356
Other assets (1) 3,331 2,935
Total assets $23,892 $22,801
LIABILITIES AND STOCKHOLDERS' EQUITY
Notes payable and current portion of
long-term debt $ 1,830 $ 1,605
Accounts payable 1,822 2,018
Accrued liabilities 4,208 4,170
Total current liabilities 7,860 7,793
Long-term debt 1,926 1,949
Other liabilities (1) 2,233 2,011
Stockholders' equity (1) 11,873 11,048
Total liabilities, stockholders' equity $23,892 $22,801
(1) SFAS No. 115 "Accounting for Certain Investments in Debt and
Equity Securities" requires the carrying value of certain
investments to be adjusted to their fair value which resulted in the
Company recording an increase to stockholders' equity, other assets
and deferred taxes of $439 million, $727 million and $288 million as
of Sept. 28, 1996; and $328 million, $543 million and $215 million
as of December 31, 1995.
Motorola, Inc.
Information by Industry Segment (Unaudited)
Summarized below are the Company's segment sales as defined by
industry segment for the three and nine months ended September 28,
1996 and September 30, 1995:
Segment Sales
Dollars in millions for the three months ended
Sept. 28, Sept. 30,
1996 1995 % Change
General Systems Products $2,584 $2,648 (2)
Semiconductor Products 1,849 2,275 (19)
Messaging, Information
and Media Products 1,021 944 8
Land Mobile Products 929 912 2
Other Products 765 807 (5)
Adjustments & eliminations (650) (735) (12)
Industry segment totals $6,498 $6,851 (5)
Segment Sales
Dollars in millions for the nine months ended
Sept. 28, Sept. 30,
1996 1995 % Change
General Systems Products $8,066 $7,877 2
Semiconductor Products 5,975 6,241 (4)
Messaging, Information
and Media Products 3,082 2,627 17
Land Mobile Products 2,693 2,574 5
Other Products 2,450 2,526 (3)
Adjustments & eliminations (1,978) (2,106 (6)
Industry segment totals $20,288 $19,739 3
CONTACT: Motorola (Motorola, Inc., Schaumburg, IL, www.motorola.com) A leading manufacturer of semiconductor devices, electronics, telecommunications and satellite systems. Founded in Chicago in 1928 by Paul V. , Inc., Schaumburg Schaum·burg A village of northeast Illinois, a suburb of Chicago. Population: 74,900. George George, river, c.345 mi (560 km) long, rising in a lake on the Quebec-Labrador boundary, E Canada. It flows N through Indian Lake (125 sq mi/324 sq km) to Ungava Bay (an arm of Hudson Strait). Grimsrud, Corporate Communications Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. , 847/576-2346 |
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