Motorola Mobility Provides Business Update

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The FINANCIAL — Motorola Mobility Holdings,announced preliminary results for the fourth-quarter 2011, according to  Motorola Mobility.

 

Although the Company has not finalized its financial results for the fourth-quarter, it estimates sales of $3.4 billion with modest profitability on a non-GAAP basis. These estimates include shipments of approximately 10.5 million mobile devices, of which approximately 5.3 million were smartphones.

 

Motorola Mobility’s fourth-quarter results were impacted by the increased competitive environment in the Mobile Device business and higher legal costs associated with ongoing Intellectual Property litigations. The Company estimates sales of $900 million for the Home business in the fourth-quarter. Motorola Mobility will issue its fourth-quarter 2011 earnings results at approximately 3:00 p.m. U.S. Central Time on Thursday, January 26, 2012.

As previously announced on August 15, 2011, Motorola Mobility and Google entered into a definitive agreement for Google to acquire Motorola Mobility for $40.00 per share in cash, or a total of approximately $12.5 billion. On November 7, 2011, Motorola Mobility stockholders voted overwhelmingly to approve the proposed merger with Google at the Company’s Special Meeting of Stockholders.

The Company continues to work closely with Google to complete the proposed acquisition of Motorola Mobility as expeditiously as possible. The Company notes that the transaction remains subject to various closing conditions, and currently expects the transaction to close in early 2012 once all conditions have been satisfied.

 

The Company reminds stockholders that it is possible that the failure to timely meet such conditions or other factors outside of the Company's control could delay or prevent completion of the transaction altogether.

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Motorola Mobility also noted that it will be showcasing and introducing several new products at the Consumer Electronics Show in Las Vegas beginning January 10, 2012. Please visit the Company’s exhibition booth at the Las Vegas Convention Center, Central Hall Booth No. 8644 to see the latest innovative products and experiences from the Mobile Devices and Home businesses.

 

 

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