Motorola Mobility posts Q4 loss
Motorola Mobility announced fourth-quarter revenue of $3.4 billion while also swinging to a $70 million operating loss, which compares with a $72 million operating profit in the year-ago quarter. The GAAP net loss in the fourth quarter of 2011 was $80 million, or 27 cents per share, compared with net earnings of $80 million, or 27 cents per share, in the same quarter of 2010.
Motorola's cable equipment operation, its Home segment, saw revenue drop 11 percent from last year's fourth quarter. The company said set-top shipments were down 3 percent compared with a year ago. For the full year, however, STB shipments were up 6 percent compared with 2010. The operation was barely mentioned during the company's conference call with analysts on Jan. 25, according to the transcript of the call provided by Seeking Alpha.
Mobile devices net revenues in the fourth quarter, which Motorola notes were impacted by the increased competitive environment, were $2.5 billion, up 5 percent compared with the year-ago quarter. The company shipped a total of 10.5 million and 42.4 million mobile devices in the fourth quarter and full-year 2011, respectively. Those numbers included 5.3 million smartphones in the fourth quarter and 18.7 million smartphones for all of 2011.
On the tablet front, Motorola Mobility said it shipped approximately 200,000 slates in the fourth quarter and 1 million of the devices for all of 2012. By comparison, Apple just announced that it sold 15.3 million iPads in the last quarter.
On the smartphone front, Motorola Mobility revived its Razr line, with the Razr and Razr Maxx Android smartphones. The company also launched a pair of new slates: the LTE-capable Xyboard 10.1 and the Xyboard 8.2.
Motorola Mobility said it still expects the $12.5 billion merger with Google to close in early 2012.
Shares of Motorola Mobility remained steady at $38.67 in early morning trading, while shares of Google were even at $568.10.
– CED's Brian Santo contributed to this report