Motorola 1999 Annual Report Download - page 16

Net Sales
(In billions)
Earnings
(loss) Before
Income Taxes
(In millions)
Diluted Earnings
(loss) per Share
(In dollars)
Return
on Average
Invested Capital
(In percentages)
0
8
16
24
32
95 96 97 98 99
-1400
0
1400
2800
4200
95 96 97 98 99
-2
0
2
4
6
95 96 97 98 99
-7
0
7
14
21
95 96 97 98 99
15 MOTOROLA, INC. AND SUBSIDIARIES
FINANCIAL
HIGHLIGHTS
1999 1998
Net sales $30,931 $29,398
Earnings (loss) before income taxes 1,168 (1,374)
% to sales 3.8% (4.7)
Net earnings (loss) 817 (962)
% to sales 2.6% (3.3)
Diluted earnings (loss) per common share (in dollars) 1.31 (1.61)
Research and development expenditures 3,438 2,893
Capital expenditures 2,684 3,221
Working capital 4,087 2,091
Current ratio 1.33 1.18
Return on average invested capital 5.5% (6.2)
Return on average stockholders’ equity 5.9% (7.6)
% of net debt to net debt plus equity 10.1% 26.8
Book value per common share (in dollars) 26.67 20.33
Year-end employment (in thousands) 121 133
1Earnings before income taxes, net earnings and diluted earnings per common share include special charges of
$684 million pre-tax, or 77 cents per share after-tax, resulting primarily from charges related to Iridium offset by
gains from the sales of investments and businesses.
2The loss before income taxes, net loss and diluted loss per common share include special charges of $1.9 billion
pre-tax, or $2.19 per share after-tax, resulting primarily from manufacturing consolidation, cost reduction and
restructuring programs.
3Excludes the impact of the merger with General Instrument.
(Dollars in millions, except as noted)
Years Ended December 31
%
%
%
%
%
MOTOROLA is a global
leader in providing integrated
communications solutions
and embedded electronic
solutions. These include:
• Software-enhanced wireless
telephone, two-way radio,
messaging and satellite com-
munications products and
systems, as well as network-
ing and Internet-access
products, for consumers,
network operators, and com-
mercial, government and
industrial customers.
• Embedded semiconductor
solutions for customers in
networking, transportation,
wireless communications
and imaging and entertain-
ment markets.
• Embedded electronic systems
for automotive, communica-
tions, imaging, manufacturing
systems, computer and indus-
trial markets.
• Digital and analog systems
and set-top terminals for
broadband cable television
operators.
CON TENTS
Linking People’s Dreams
With Technology’s Promise 1
Financial Highlights 15
To Our Stockholders and
Other Friends 16
Motorola at a Glance 20
Consolidated Financial
Statements 22
Condensed Notes to
Consolidated Financial
Statements 26
Five-Year Financial
Summary 32
Board of Directors of
Motorola, Inc. 33
Stockholder
Reference Information
Inside Back Cover
1,3 2,3