ADD to BW1409, MOTOROLA-INC.--(BUSINESS WIRE)--July 9, 1996-- ADD to BW1409 (MOTOROLA-INC) after 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. , "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. (R) is a registered trademark and service mark of Iridium, Inc." -0-
Motorola, Inc. and Consolidated Subsidiaries
Statements of Consolidated Earnings (Unaudited)
(In millions, except per share amounts)
Three Months Ended Six Months Ended
June 29, July 1, June 29, July 1,
1996 1995 1996 1995
________ ________ ________ ________
Net sales $6,835 $6,877 $13,790 $12,888
________ ________ ________ ________
Manufacturing and
other costs of sales 4,585 4,394 9,303 8,272
Selling, general and admin. expenses 1,126 1,209 2,198 2,299 Depreciation expense 576 478 1,099 909
Interest expense, net 47 34 98 55
________ ________ ________ ________
Total costs and expense 6,334 6,115 12,698 11,535
________ ________ ________ ________
Earnings before income
taxes 501 762 1,092 1,353
Income taxes provided
on earnings 175 281 382 500
________ ________ ________ ________
Net earnings $ 326 $ 481 $ 710 $ 853
________ ________ ________ ________
________ ________ ________ ________
Net earnings per share
Fully Diluted (1):
Net earnings per share $ .54 $ .79 $ 1.17 $ 1.40
________ ________ ________ ________
________ ________ ________ ________
Avg. common and common
equivalent shares
outstanding - fully
diluted (in millions) 609.6 609.2 609.6 609.2
________ ________ ________ ________
________ ________ ________ ________
Earnings adjustment in
dilution calculation (2) $ 1 $ 1 $ 2 $ 3
Dividends paid per share $ .10 $ .10 $ .20 $ .20 Net margin on sales 4.8% 7.0% 5.1% 6.6% Return on average invested capital(3) 12.2% 16.5% ---- ---- R&D expenditures $ 625 $ 551 $1,181 $1,052
(1) Average primary common and common equivalent shares
outstanding for the three months and six months ended June 29, 1996
and July 1, 1995 were 609.1 million and 608.3 million, respectively.
Primary earnings per common and common equivalent share were $1.17
and $1.41 for the six months ended June 29, 1996 and July 1, 1995,
respectively and $.54 and $.80 for the second quarters ended
June 29, 1996 and July 1, 1995, respectively.
(2) 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 June 29, 1996 and July 1, 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 June 29, Dec. 31,
1996 1995
________ ________
Cash and cash equivalents $ 941 $ 725
Short-term investments 291 350 Accounts receivable, less allowance for doubtful accounts (1996,$132; 1995,$123) 3,941 4,081 Inventories 3,433 3,528
Other current assets 1,847 1,826
________ ________
Total current assets 10,453 10,510
________ ________
Property, plant and equipment, less
accumulated depreciation
(1996, $8,903; 1995, $8,110) 9,761 9,356
Other assets (1) 3,381 2,935
________ ________
Total assets $23,595 $22,801
________ ________
________ ________
LIABILITIES AND STOCKHOLDERS' EQUITY Notes payable and current portion of long-term debt $ 1,763 $ 1,605 Accounts payable 1,751 2,018
Accrued liabilities 4,123 4,170
________ ________
Total current liabilities 7,637 7,793
________ ________
Long-term debt 1,948 1,949
Other liabilities (1) 2,254 2,011
Stockholders' equity (1) 11,756 11,048
________ ________
Total liabilities, stockholders' equity $23,595 $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 $478 million, $790 million and $312 million as
of June 29, 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 six months ended June 29, 1996 and
July 1, 1995:
Segment Sales
Dollars in millions for the three months ended
June 29, July 1,
1996 1995 % Change
________ ________ ________
General Systems Products $2,766 $2,883 (4)
Semiconductor Products 1,980 2,085 (5) Messaging, Information and Media Products 1,071 895 20 Land Mobile Products 943 872 8 Other Products 769 901 (15)
Adjustments & eliminations (694) (759) (9)
________ ________
Industry segment totals $6,835 $6,877 (1)
________ ________
________ ________
Segment Sales
for the six months ended
June 29, July 1,
1996 1995 % Change
________ ________ ________
General Systems Products $5,482 $5,229 5
Semiconductor Products 4,126 3,966 4 Messaging, Information and Media Products 2,061 1,683 22 Land Mobile Products 1,764 1,662 6 Other Products 1,685 1,719 (2)
Adjustments & eliminations (1,328) (1,371) (3)
________ ________
Industry segment totals $13,790 $12,888 7
________ ________
________ ________
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. 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. , 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, 847/576-2346 |
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