Motorola Mobility Posts Q1 Loss; Revenue Up by 2%

Motorola Mobility has reported net revenues of $3.1 billion in the Q1 of 2012, up 2 percent compared to the first quarter of 2011.
The GAAP net loss in the Q1 of 2012 was $86 million, or $0.28 per share, compared to a net loss of $81 million, or $0.27 per share, in the Q1 of 2011. On a non-GAAP basis, the net loss in the Q1 2012 was $10 million, or $0.03 per share, compared to a net loss of $25 million, or $0.08 per share, in the Q1 of 2011.
The Company had operating cash outflow of $98 million in the Q1. Total cash at the end of the quarter was $3.5 billion and includes cash, cash equivalents, and cash deposits.

 “The introduction of RAZR MAXX marked another successful addition to the Motorola product family and contributed to our growth in smartphones. Our Home business delivered another solid quarter highlighted by improvement in year-over-year profitability,” said Sanjay Jha, Chairman and CEO, Motorola Mobility. “We continue to work closely with Google to complete the proposed merger during the first half of the year.”

Mobile Devices net revenues in the first quarter were $2.2 billion, up 3 percent compared with the year-ago quarter. The GAAP operating loss was $121 million compared to an operating loss of $89 million in the year-ago quarter.
The non-GAAP operating loss was $85 million compared to an operating loss of $61 million in the year-ago quarter. The Company shipped a total of 8.9 million mobile devices in the first quarter, including 5.1 million smartphones. Home segment net revenues in the first quarter were $884 million, down 2 percent compared with the year-ago quarter.