Motorola Reports Third-Quarter Financial Results
* Reuters is not responsible for the content in this press release.
- Third-quarter sales of $5.5 billion
SCHAUMBURG, Ill., Oct. 29 /PRNewswire-FirstCall/ -- Motorola, Inc. (NYSE: MOT)
today reported sales of $5.5 billion in the third quarter of 2009. The GAAP
earnings from continuing operations in the third quarter of 2009 were $12
million, or $0.01 per share. The GAAP earnings from continuing operations
include net charges of $0.01 per share from highlighted items, which are
outlined at the end of this press release.
Total cash* at the end of the third quarter was $7.2 billion, an increase of
$700 million compared to the end of the second quarter. The Company generated
$616 million of positive operating cash flow during the quarter and expects to
continue to generate positive cash flow in the fourth quarter.
Sanjay Jha, co-CEO of Motorola and CEO of Mobile Devices, said, "We delivered
on our commitment to improve the financial performance of Mobile Devices and
to commercially launch two smartphones in time for the fourth- quarter holiday
season. The introductions of our new products powered by Android are important
milestones as we begin to address the mobilization of the Internet and the
growing demand for modern smartphones. Next year, we will continue to expand
our smartphone portfolio and deliver improved financial results."
Greg Brown, co-CEO of Motorola and CEO of Broadband Mobility Solutions, said,
"Broadband Mobility Solutions performed well during the quarter. We continued
to manage our cost structure and also delivered solid operating margins. We
secured additional contract wins and launched new devices, including the
MC9500, the industry's most rugged mobile computer. As the economic
environment improves, we believe our businesses are well positioned for
continued success."
Operating Results
Mobile Devices segment sales were $1.7 billion, down 46 percent compared to
the year-ago quarter. The GAAP operating loss was $183 million, compared to an
operating loss of $840 million in the year-ago quarter. The segment reduced
its operating loss by 28 percent sequentially from $253 million in the second
quarter of 2009.
Mobile Devices highlights:
-- Shipped 13.6 million handsets; estimated global handset market share
of
4.7 percent
-- Announced Motorola's first two smartphones powered by Android:
-- CLIQ(TM) & DEXT(TM), a 3G device powered by Android with
Motorola's
innovative MOTOBLUR(TM) solution that automatically syncs and
streams communications, contacts and content from today's most
popular sources like Facebook®, MySpace®, Twitter®, Last.FM®,
Gmail® and Yahoo!® Mail, and synchronizes work email from
Microsoft Exchange® servers
-- DROID(TM), the world's first smartphone to feature Android 2.0.
Features include high-speed browsing and voice-activated search,
3.7" wide screen, high-resolution display and the industry's
thinnest full-QWERTY slider
-- Extended Android product experience through announcement of new
partners
for the Android ecosystem, including Accuweather, Amazon MP3, Barnes &
Noble, CardStar, Comcast Entertainment Group, Hands On Mobile,
Howcast.com, Midomi, MySpace, QuickOffice, QuickPlay Media, RJDJ,
Superpages.com and Travel Channel
-- Launched Debut(TM), the first iDEN® push-to-talk slider
Home and Networks Mobility segment sales were $2.0 billion, down 15 percent
compared to the year-ago quarter. GAAP operating earnings were $199 million,
compared to operating earnings of $263 million in the year-ago quarter.
Home and Networks Mobility highlights:
-- Shipped 3.3 million digital entertainment devices
-- Launched next-generation video platform for dynamically managing
bandwidth, format and resolution to enable high-quality viewing
experience on any device
-- Shipped 1 millionth WiMAX device; expanded WiMAX CPE product portfolio
-- Conducted world's first live 2.6GHz TD-LTE mobile demonstration for
China Mobile
Enterprise Mobility Solutions segment sales were $1.8 billion, down 13 percent
compared to the year-ago quarter. GAAP operating earnings were $306 million,
compared to operating earnings of $403 million in the year-ago quarter.
Enterprise Mobility Solutions highlights:
-- Announced the MC9500, Motorola's most rugged mobile computer and the
first to provide 3.5G WAN with support for GSM-HSDPA and EVDO Rev A
wireless broadband connectivity
-- Launched the MT2000 series of mobile terminals to provide the power of
a
mobile computer in a handheld, rugged bar code scanner - the
industry's
first device of this kind
-- Celebrated the 20th anniversary of the Project 25 (P25) standard and
secured P25 public safety awards from Pima County in Arizona,
Baltimore
County in Maryland, the City of Philadelphia, and the City of Virginia
Beach
-- Received TETRA awards in key developing countries' major airports and
metros including Mumbai Metro, New Delhi Airport Express Link, and
Urumqi Airport in the Xinjiang province in China
Fourth-Quarter 2009 Outlook
The Company's outlook for fourth-quarter earnings from continuing operations
is $0.07 to $0.09 per share. This outlook excludes charges associated with the
Company's operating expense reduction initiatives, as well as any other items
of the variety typically highlighted by the Company in its quarterly earnings
releases.
Consolidated GAAP Results
A comparison of results from operations is as follows:
Third Quarter
-------------
(In millions, except per share amounts) 2009 2008
-------------------------------------- ---- ----
Net sales $5,453 $7,480
--------- ------ ------
Gross margin 1,808 1,803
------------ ----- -----
Operating earnings (loss) 128 (452)
------------------------ --- ----
Net earnings (loss)** 12 (397)
-------------------- -- ----
Diluted earnings (loss)** per common share:
------------------------------------------
Continuing operations $0.01 $(0.18)
--------------------- ----- ------
Weighted average diluted common
shares outstanding 2,319.5 2,265.9
------------------ ------- -------
Highlighted Items
Highlighted items totaling $0.01 per share in net expense include a charge for
an environmental reserve and costs associated with ongoing efforts to prepare
for separation into two independent public companies.
Conference Call and Webcast
Motorola will host its quarterly conference call beginning at 8:00 a.m.
Eastern Time (USA) on Thursday, October 29, 2009. The conference call will be
webcast live with audio and slides at www.motorola.com/investor.
Business Risks
This press release contains "forward-looking statements" as that term is
defined in the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include, but are not limited to, statements about:
cost savings and financial impact from cost-reduction actions, levels of cash
generation and consumption in 2009, the timing and financial impact of the
launch of new products and Motorola's financial outlook for the fourth quarter
of 2009. Motorola cautions the reader that the risk factors below, as well as
those on pages 18 through 30 in Item 1A of Motorola's 2008 Annual Report on
Form 10-K and in its other SEC filings, could cause Motorola's actual results
to differ materially from those estimated or predicted in the forward-looking
statements. Factors that may impact forward-looking statements include, but
are not limited to: (1) the Company's ability to improve financial performance
in its Mobile Devices business; (2) the level of demand for the Company's
products, particularly in light of global economic conditions which may lead
consumers, businesses and governments to defer purchases in response to
tighter credit and negative financial news; (3) the Company's ability to
introduce new products and technologies in a timely manner; (4) the possible
negative effects on the Company's business operations, financial performance
or assets as a result of its plan to create two independent, publicly traded
companies; (5) unexpected negative consequences from the Company's ongoing
restructuring and cost reduction activities, including as a result of
significant restructuring at the Mobile Devices business; (6) negative impact
on the Company's business from the global financial crisis and tightening in
the credit markets, which may include: (i) the inability of customers to
obtain financing for purchases of the Company's products; (ii) the viability
of the Company's suppliers that may no longer have access to necessary
financing; (iii) reduced value of investments held by the Company's pension
plan and other defined benefit plans; (iv) fair and/or actual value of the
Company's debt and equity investments differing significantly from the fair
values currently assigned to them; (v) counterparty failures negatively
impacting the Company's financial position; (vi) difficulties or increased
costs for the Company in obtaining financing; and (vii) the inability of the
Company to sell accounts receivable and long-term receivables in volumes and
on terms comparable to historical practices; (7) the economic outlook for the
telecommunications and broadband industries; (8) the Company's ability to
purchase sufficient materials, parts and components to meet customer demand,
particularly in light of global economic conditions; (9) risks related to
dependence on certain key suppliers; (10) the impact on the Company's
performance and financial results from strategic acquisitions or divestitures,
including those that may occur in the future; (11) risks related to the
Company's high volume of manufacturing and sales in Asia; (12) the
creditworthiness of the Company's customers and distributors, particularly
purchasers of large infrastructure systems; (13) variability in income
received from licensing the Company's intellectual property to others, as well
as expenses incurred when the Company licenses intellectual property from
others; (14) unexpected liabilities or expenses, including unfavorable
outcomes to any pending or future litigation or regulatory or similar
proceedings; (15) the impact of foreign currency fluctuations, including the
negative impact of the strengthening U.S. dollar on the Company when competing
for business in foreign markets; (16) the impact on the Company from
continuing hostilities in countries where the Company does business; (17) the
impact on the Company from ongoing consolidation in the telecommunications and
broadband industries; (18) the impact of changes in governmental policies,
laws or regulations; (19) the outcome of currently ongoing and future tax
matters; and (20) negative consequences from the Company's outsourcing of
various activities, including certain manufacturing, information technology
and administrative functions. Motorola undertakes no obligation to publicly
update any forward-looking statement or risk factor, whether as a result of
new information, future events or otherwise.
Definitions
*"Total cash" equals Cash and cash equivalents plus Sigma fund (current and
non-current) plus Short-term investments.
**Amounts attributable to Motorola, Inc. common shareholders
About Motorola
Motorola is known around the world for innovation in communications and is
focused on advancing the way the world connects. From broadband communications
infrastructure, enterprise mobility and public safety solutions to
high-definition video and mobile devices, Motorola is leading the next wave of
innovations that enable people, enterprises and governments to be more
connected and more mobile. Motorola (NYSE: MOT) had sales of $30.1 billion in
2008. For more information, please visit www.motorola.com.
Media contact:
Jennifer Erickson
Motorola, Inc.
+1 847-435-5320
jennifer.erickson@motorola.com
Investor contact:
Dean Lindroth
Motorola, Inc.
+1 847-576-6899
dean.lindroth@motorola.com
MOTOROLA and the Stylized M Logo are registered in the US Patent & Trademark
Office. DROID is a trademark of Lucasfilm and its related companies. Used
under License. All other product or service names are the property of their
respective owners. © Motorola, Inc. 2009. All rights reserved.
Motorola, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations
(In millions, except per share amounts)
Three Months Ended
------------------
October 3, July 4, September 27,
2009 2009 2008
----------- -------- --------------
Net sales $5,453 $5,497 $7,480
Costs of sales 3,645 3,787 5,677
----- ----- -----
Gross margin 1,808 1,710 1,803
----- ----- -----
Selling, general and
administrative expenses 800 822 1,044
Research and development
expenditures 768 775 999
Separation-related transaction
costs 19 - 21
Other charges 24 33 111
Intangibles amortization 69 70 80
-- -- --
Operating earnings (loss) 128 10 (452)
--- -- ----
Other income (expense):
Interest income (expense), net (49) (30) 18
Gain on sales of investments and
businesses, net 21 30 7
Other (64) 23 (167)
--- -- ----
Total other income (expense) (92) 23 (142)
--- -- ----
Earnings (loss) before income
taxes 36 33 (594)
Income tax expense (benefit) 14 (2) (203)
-- -- ----
Net earnings (loss) 22 35 (391)
Less: Earnings attributable to
noncontrolling interests 10 9 6
-- - -
Net earnings (loss) attributable
to Motorola, Inc. $12 $26 $(397)
=== === =====
Earnings (loss) per common share
--------------------------------
Basic $0.01 $0.01 $(0.18)
Diluted $0.01 $0.01 $(0.18)
Weighted average common shares outstanding
------------------------------------------
Basic 2,299.6 2,293.9 2,265.9
Diluted 2,319.5 2,306.4 2,265.9
Dividends paid per share $- $- $0.05
-- -- -----
Percentage of Net Sales*
------------------------
Net sales 100% 100% 100%
Costs of sales 66.8% 68.9% 75.9%
---- ---- ----
Gross margin 33.2% 31.1% 24.1%
---- ---- ----
Selling, general and
administrative expenses 14.7% 15.0% 14.0%
Research and development
expenditures 14.1% 14.1% 13.4%
Separation-related transaction
costs 0.3% 0.0% 0.3%
Other charges 0.4% 0.6% 1.5%
Intangibles amortization 1.3% 1.3% 1.1%
--- --- ---
Operating earnings (loss) 2.3% 0.2% -6.0%
--- --- ----
Other income (expense):
Interest income (expense), net -0.9% -0.5% 0.2%
Gain on sales of investments and
businesses, net 0.4% 0.5% 0.1%
Other -1.2% 0.4% -2.2%
---- --- ----
Total other income (expense) -1.7% 0.4% -1.9%
---- --- ----
Earnings (loss) before income
taxes 0.7% 0.6% -7.9%
Income tax expense (benefit) 0.3% 0.0% -2.7%
--- --- ----
Net earnings (loss) 0.4% 0.6% -5.2%
Less: Earnings attributable to
noncontrolling interests 0.2% 0.2% 0.1%
--- --- ---
Net earnings (loss) attributable
to Motorola, Inc. 0.2% 0.5% -5.3%
=== === ====
* Percentages may not add up due to rounding
Motorola, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations
(In millions, except per share amounts)
Nine Months Ended
-----------------
October 3, September 27,
2009 2008
----------- --------------
Net sales $16,321 $23,010
Costs of sales 11,307 16,737
------ ------
Gross margin 5,014 6,273
----- -----
Selling, general and administrative expenses 2,491 3,342
Research and development expenditures 2,390 3,101
Separation-related transaction costs 19 41
Other charges 215 261
Intangibles amortization 210 244
--- ---
Operating loss (311) (716)
---- ----
Other income (expense):
Interest income (expense), net (114) 6
Gain on sales of investments and
businesses, net 31 65
Other 29 (264)
-- ----
Total other income (expense) (54) (193)
--- ----
Loss from continuing operations before
income taxes (365) (909)
Income tax benefit (134) (325)
---- ----
Loss from continuing operations (231) (584)
Earnings from discontinued operations, net
of tax 60 -
-- ---
Net loss (171) (584)
Less: Earnings attributable to
noncontrolling interests 22 3
-- --
Net loss attributable to Motorola, Inc. $(193) $(587)
===== =====
Amounts attributable to Motorola, Inc. common
shareholders
Loss from continuing operations, net of
tax $(253) $(587)
Earnings from discontinued operations,
net of tax 60 -
-- ---
Net loss $(193) $(587)
===== =====
Earnings (loss) per common share
--------------------------------
Basic:
Continuing operations $(0.11) $(0.26)
Discontinued operations 0.03 -
---- -
$(0.08) $(0.26)
====== ======
Diluted:
Continuing operations $(0.11) $(0.26)
Discontinued operations 0.03 -
---- ---
$(0.08) $(0.26)
====== ======
Weighted average common shares outstanding
------------------------------------------
Basic 2,290.8 2,262.1
Diluted 2,290.8 2,262.1
Dividends paid per share $0.05 $0.15
----- -----
Percentage of Net Sales*
------------------------
Net sales 100% 100%
Costs of sales 69.3% 72.7%
---- ----
Gross margin 30.7% 27.3%
---- ----
Selling, general and administrative expenses 15.3% 14.5%
Research and development expenditures 14.6% 13.5%
Separation-related transaction costs 0.1% 0.2%
Other charges 1.3% 1.1%
Intangibles amortization 1.3% 1.1%
--- ---
Operating loss -1.9% -3.1%
---- ----
Other income (expense):
Interest income (expense), net -0.7% 0.0%
Gain on sales of investments and
businesses, net 0.2% 0.3%
Other 0.2% -1.1%
--- ----
Total other income (expense) -0.3% -0.8%
---- ----
Loss from continuing operations before
income taxes -2.2% -4.0%
Income tax benefit -0.8% -1.4%
---- ----
Loss from continuing operations -1.4% -2.5%
Earnings from discontinued operations, net
of tax 0.4% 0.0%
--- ---
Net loss -1.0% -2.5%
Less: Earnings attributable to
noncontrolling interests 0.1% 0.0%
--- ---
Net loss attributable to Motorola, Inc. -1.2% -2.6%
==== ====
* Percentages may not add up due to rounding
Motorola, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(In millions)
October 3, July 4, September 27,
2009 2009 2008
---- ---- ----
Assets
Cash and cash equivalents $3,050 $2,881 $2,974
Sigma Fund 4,050 3,489 3,427
Short-term investments 15 45 735
Accounts receivable, net 3,402 3,689 4,330
Inventories, net 1,523 1,660 2,649
Deferred income taxes 1,108 1,320 1,954
Other current assets 2,177 2,630 3,799
----- ----- -----
Total current assets 15,325 15,714 19,868
------ ------ ------
Property, plant and equipment,
net 2,224 2,280 2,505
Sigma Fund 75 72 483
Investments 491 446 715
Deferred income taxes 2,327 2,094 3,060
Goodwill 2,823 2,822 4,351
Other assets 1,784 1,676 2,137
----- ----- -----
Total assets $25,049 $25,104 $33,119
======= ======= =======
Liabilities and Stockholders' Equity
Notes payable and current portion
of long-term debt $24 $40 $189
Accounts payable 2,212 2,188 3,834
Accrued liabilities 5,364 5,956 7,850
----- ----- -----
Total current liabilities 7,600 8,184 11,873
----- ----- ------
Long-term debt 3,901 3,899 3,988
Other liabilities 3,631 3,398 2,489
Total Motorola, Inc. stockholders'
equity 9,810 9,523 14,659
----- ----- ------
Noncontrolling interests 107 100 110
--- --- ---
Total liabilities and
stockholders' equity $25,049 $25,104 $33,119
------- ------- -------
Financial Ratios:
Total cash* $7,190 $6,487 $7,619
*Total cash = Cash and cash equivalents + Sigma Fund (current and
non-current) + Short-term investments
Motorola, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows
(In millions)
Three Months Ended
------------------
October 3, July 4, September 27,
2009 2009 2008
----------- -------- --------------
Operating
Net earnings (loss)
attributable to Motorola, Inc. $12 $26 $(397)
Less: Earnings attributable to
noncontrolling interests 10 9 6
-- -- --
Net earnings (loss) 22 35 (391)
Adjustments to reconcile net earnings
(loss) to net cash provided by
operating activities:
Depreciation and amortization 189 192 208
Non-cash other charges
(income) 49 (9) 480
Share-based compensation
expense 75 74 54
Gain on sales of investments
and businesses, net (21) (30) (7)
Deferred income taxes (79) 162 (27)
Changes in assets and liabilities,
net of effects of acquisitions
and dispositions:
Accounts receivable 287 1 171
Inventories 136 408 (183)
Other current assets 453 290 76
Accounts payable and
accrued liabilities (579) (848) 271
Other assets and
liabilities 84 (125) (472)
-- ---- ----
Net cash provided by
operating activities 616 150 180
--- --- ---
Investing
Acquisitions and
investments, net (9) (6) (6)
Proceeds from sales of
investments and businesses,
net 54 89 12
Distributions from
investments - - 30
Capital expenditures (52) (66) (156)
Proceeds from sales of
property, plant and
equipment 21 3 116
Proceeds from sales
(purchases) of Sigma Fund
investments, net (572) (649) 335
Proceeds from sales
(purchases) of short-term
investments, net 29 (26) (140)
-- --- ----
Net cash provided by (used
for) investing activities (529) (655) 191
---- ---- ---
Financing
Net proceeds from (repayment
of) short-term borrowings,
net (17) (23) 44
Issuance of common stock 54 - 4
Payment of dividends - - (113)
Distributions to
discontinued operations - - (16)
Other, net - 6 (2)
--- -- --
Net cash provided by (used
for) financing activities 37 (17) (83)
-- --- ---
Effect of exchange rate
changes on cash and cash
equivalents 45 138 (71)
-- --- ---
Net increase (decrease) in
cash and cash equivalents 169 (384) 217
Cash and cash equivalents,
beginning of period 2,881 3,265 2,757
----- ----- -----
Cash and cash equivalents,
end of period $3,050 $2,881 $2,974
------ ------ ------
Motorola, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows
(In millions)
Nine Months Ended
-----------------
October 3, September 27,
2009 2008
----------- --------------
Operating
Net loss attributable to Motorola, Inc. $(193) $(587)
Less: Earnings attributable to
noncontrolling interests 22 3
-- --
Net loss (171) (584)
Earnings from discontinued operations,
net of tax 60 -
-- ---
Loss from continuing operations (231) (584)
Adjustments to reconcile loss from continuing
operations to net cash provided by (used for)
operating activities:
Depreciation and amortization 571 624
Non-cash other charges 44 596
Share-based compensation expense 225 220
Gain on sales of investments and
businesses, net (31) (65)
Gain from extinguishment of long-term debt (67) -
Deferred income taxes (114) (497)
Changes in assets and liabilities, net of
effects of acquisitions and dispositions:
Accounts receivable 84 1,044
Inventories 1,126 (46)
Other current assets 960 (194)
Accounts payable and accrued liabilities (2,782) (524)
Other assets and liabilities (33) (533)
--- ----
Net cash provided by (used for)
operating activities (248) 41
---- --
Investing
Acquisitions and investments, net (30) (180)
Proceeds from sales of investments and
businesses, net 280 83
Distributions from investments - 112
Capital expenditures (189) (387)
Proceeds from sales of property, plant
and equipment 27 121
Proceeds from sales of Sigma Fund
investments, net 98 1,122
Proceeds from sales (purchases) of short-
term investments, net 209 (123)
--- ----
Net cash provided by investing
activities 395 748
--- ---
Financing
Repayment of short-term borrowings, net (71) (37)
Repayment of debt (130) (114)
Issuance of common stock 110 86
Purchase of common stock - (138)
Payment of dividends (114) (340)
Distributions to discontinued operations - (26)
Other, net 7 1
-- --
Net cash used for financing activities (198) (568)
---- ----
Effect of exchange rate changes on cash and
cash equivalents 37 1
-- --
Net increase (decrease) in cash and cash
equivalents (14) 222
Cash and cash equivalents, beginning of
period 3,064 2,752
----- -----
Cash and cash equivalents, end of period $3,050 $2,974
------ ------
Motorola, Inc. and Subsidiaries
Segment Information
(In millions)
Summarized below are the Company's Net sales by reportable segment for the
three and nine months ended October 3, 2009 and September 27, 2008.
Net Sales
---------
Three Months Ended Three Months Ended
October 3, September 27, % Change from
2009 2008 2008
---- ---- ----
Mobile Devices $1,692 $3,116 -46%
Home and Networks Mobility 2,007 2,369 -15%
Enterprise Mobility
Solutions 1,770 2,030 -13%
----- ----- ---
Segment Totals 5,469 7,515 -27%
Other and Eliminations (16) (35) -54%
--- --- ---
Company Totals $5,453 $7,480 -27%
------ ------ ---
Net Sales
---------
Nine Months Ended Nine Months Ended
October 3, September 27, % Change from
2009 2008 2008
---- ---- ----
Mobile Devices $5,322 $9,749 -45%
Home and Networks Mobility 5,999 7,490 -20%
Enterprise Mobility
Solutions 5,054 5,878 -14%
----- ----- ---
Segment Totals 16,375 23,117 -29%
Other and Eliminations (54) (107) -50%
--- ---- ---
Company Totals $16,321 $23,010 -29%
------- ------- ---
Motorola, Inc. and Subsidiaries
Segment Information
(In millions)
Summarized below are the Company's Operating earnings (loss) by
reportable segment for the three and nine months ended October 3,
2009 and September 27, 2008.
Operating Earnings (Loss)
-------------------------
Three Months Ended Three Months Ended
October 3, 2009 September 27, 2008
------------------- -------------------
Mobile Devices $(183) $(840)
Home and Networks Mobility 199 263
Enterprise Mobility Solutions 306 403
--- ---
Segment Totals 322 (174)
Other and Eliminations (194) (278)
---- ----
Company Totals $128 $(452)
---- -----
Operating Earnings (Loss)
-------------------------
Nine Months Ended Nine Months Ended
October 3, 2009 September 27, 2008
------------------ ------------------
Mobile Devices $(945) $(1,604)
Home and Networks Mobility 467 661
Enterprise Mobility Solutions 689 1,030
--- -----
Segment Totals 211 87
Other and Eliminations (522) (803)
---- ----
Company Totals $(311) $(716)
----- -----
SOURCE Motorola, Inc.
Media, Jennifer Erickson, +1-847-435-5320, jennifer.erickson@motorola.com, or
Investors, Dean Lindroth, +1-847-576-6899, dean.lindroth@motorola.com, both of
Motorola, Inc.
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