Motorola Solutions (MSI) FY2010 results: revenue $7.6 billion, up 9.6% on the year
Motorola Solutions, Inc. (MSI) reported revenue of $7.6 billion for fiscal 2010, the year ended 31 December 2010, up 9.6% on the year before. Net income was $633 million, and diluted earnings per share $1.87. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2011.
Revenue
$7.6 billion
+9.6% on the year
FY2007FY2010
Operating margin
9.9%
8.2% a year earlier
FY2007FY2010
Net income
$633 million
FY2007FY2010
Diluted EPS
$1.87
FY2007FY2010
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Revenue
7,617
6,947
8,140
+9.6%
Cost of revenue
3,805
3,470
4,051
+9.7%
Gross profit
3,812
3,477
4,089
+9.6%
Gross margin
50.0%
50.1%
50.2%
Research and development
1,037
993
1,106
+4.4%
Selling, general and administrative
1,874
1,662
1,845
+12.8%
Operating income
751
567
-679
+32.5%
Operating margin
9.9%
8.2%
-8.3%
Interest expense
217
207
210
+4.8%
Pre-tax income
664
633
-997
+4.9%
Income tax
403
188
2,481
+114.4%
Effective tax rate
60.7%
29.7%
n/a
Net income
633
-51.0
-4,244
Net margin
8.3%
-0.7%
-52.1%
Diluted EPS
$1.87
-$0.14
-$13.09
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Operating cash flow
803
627
884
+28.1%
Capital expenditure
192
136
257
+41.2%
Free cash flow
611
491
627
+24.4%
Free cash flow margin
8.0%
7.1%
7.7%
Cash from investing
523
-531
1,044
Cash from financing
-40.0
-277
-1,393
Depreciation and amortisation
353
388
403
-9.0%
Share-based compensation
144
137
131
+5.1%
Buybacks
0.0
0.0
-138
Dividends paid
0.0
114
453
Dividend per share
$0.00
$0.35
$1.40
Diluted shares, weighted
338m
328m
324m
+3.1%
Shares outstanding at period end
336m
330m
325m
+1.8%
Balance sheet
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Shareholders' equity
10,885
9,775
9,507
+11.4%
Non-controlling interest
102
108
88.0
-5.6%
Debt
2,700
3,789
4,092
-28.7%
Other liabilities
11,890
11,931
14,182
-0.3%
Total liabilities and equity
25,577
25,603
27,869
-0.1%
Fixed assets
922
1,012
2,442
-8.9%
Goodwill
1,429
1,429
1,440
0.0%
Intangible assets
246
453
n/a
-45.7%
Investments
181
400
742
-54.8%
Cash and equivalents
4,208
2,869
3,064
+46.7%
Receivables
1,547
1,353
3,493
+14.3%
Inventory
521
409
2,659
+27.4%
Other assets
16,523
17,678
14,029
-6.5%
Total assets
25,577
25,603
27,869
-0.1%
10-K for the year ended 31 December 2010, filed 18 February 2011: the filing.