Motorola Mobility takes Home 1% increase

Revenues within Motorola Mobility’s Home division increased by just 1% in the fourth quarter as the company published its first financial statements since Motorola split in two separate entities in January.

Home recorded net revenues of $1 billion (€730 million), but found the full year figure had fallen to $3.6 billion from $3.9 billion in 2009. This despite increased demand for personal video recorders (styled as DVRs) from Motorola’s cableco customers.

GAAP operating earnings were $54m, compared to an operating loss of $30m in Q4 2009.

In the full year 2010, net revenues were $3.6bn, compared to $3.9 billion in 2009. GAAP operating earnings increased to $152m from $11m in 2009. The 2010 non-GAAP operating earnings increased to $272m from $197m in 2009.

As a whole, Motorola Mobility reported net revenues of $3.4bn in the fourth quarter of 2010, up 21% from the fourth quarter of 2009. GAAP earnings in the fourth quarter of 2010 were $80m compared to a loss of $204m in the fourth quarter of 2009.

For the full year, 2010 net revenues were $11.5bn, up 4% compared to 2009.

The company is forecasting a 2011 net loss of between of $26m to $62m.