Motorola Authorizes $4.0 Billion, 36-Month Stock Repurchase Program
Motorola Authorizes $4.0 Billion, 36-Month Stock Repurchase ProgramMotorola, Inc. (NYSE: MOT - News) today announced that its Board of Directors has authorized the Company to repurchase up to $4.0 billion of its outstanding shares of common stock over the next 36 months, subject to market conditions. Based on Motorola's current stock price, $4.0 billion represents approximately 10% of the Company's total market capitalization. As of April 2, 2005, Motorola had approximately 2.45 billion shares of common stock outstanding.
"Motorola is committed to investing for growth and creating value for our stockholders," said Ed Zander, chairman and CEO. "We are pleased to initiate the first stock repurchase program in Motorola's history. Motorola's financial performance over the past five quarters has proven that we have transformed our business model into one with the capability to consistently generate free cash flow(1). We believe this stock repurchase program creates value for stockholders and further underscores our confidence in Motorola's long-term growth. Our strong balance sheet and significant free cash flow allow us the flexibility to simultaneously invest in our current business, pay dividends, further reduce debt, initiate a share repurchase program and take advantage of strategic opportunities."
Motorola will repurchase the shares from time to time for cash in open market transactions or in privately negotiated transactions in accordance with applicable federal securities laws. The timing and amount of the repurchases will be determined by the company's management based on their evaluation of market conditions, share price and other factors. The stock repurchase program may be suspended or discontinued at any time. As of April 2, 2005, Motorola had cash, cash equivalents and short-term investments of approximately $11.3 billion and had a net cash position of $6.0 billion(2).
About Motorola
Motorola is a Fortune 100 global communications leader that provides seamless mobility products and solutions across broadband, embedded systems and wireless networks. In your home, auto, workplace, and all spaces in between, seamless mobility means you can reach the people, things and information you need, anywhere, anytime. Seamless mobility harnesses the power of technology convergence and enables smarter, faster, cost-effective and flexible communication. Motorola had sales of US $31.3 billion in 2004. For more information: http://www.motorola.com .
Business Risks
Statements in this press release that are not historical facts are forward-looking statements based on current expectations that involve risks and uncertainties. Such forward-looking statements include, but are not limited to, statements about: (1) Motorola's long-term growth; (2) Motorola's ability to consistently generate future free cash flow; (3) Motorola's ability to invest in our current business, pay dividends, further reduce debt, initiate a share repurchase program and opportunistically take advantage of strategic opportunities; and (4) the levels and timing of future stock repurchases under the stock repurchase program. Motorola cautions the reader that the factors below and those on pages 70 through 80 of Motorola's 2004 Annual Report on Form 10-K and in its other SEC filings could cause Motorola's actual results to differ materially from those stated in the forward-looking statements. These factors include: (1) the uncertainty of current economic and political conditions, as well as the economic outlook for the telecommunications, broadband and automotive industries; (2) the timing and amount of revenues that may be recognized by Motorola; (3) continuation of current revenue and expense trends; (4) absence of unforeseen changes in Motorola's markets; and (5) the impact of changes in governmental policies, laws or regulations.
(1) Free Cash Flow = Net Cash Provided by Operating Activities minus
Capital Expenditures.
(2) Net Cash = Cash, Cash Equivalents and Short-Term Investments minus
Notes Payable minus Current Portion of Long-Term Debt minus Long-Term
Debt.
--------------------------------------------------------------------------------
Source: Motorola, Inc.
Vending Machines
Vending Machines
Vending Machines > Business Opportunities in the Yahoo! Directory
North American Vending - provides vending machines featuring unique cash drawers as a business opportunity with coaching and training programs available.
Vending Machines by North American Vending Have New Chrome Security Sliding Cash Drawer
North American Vending - Vending Machines - Open Directory - Business: Opportunities: Vending: Manufacturers
Healthy Food from Vending Machines Vend Healthy Food, Trail Mix, Toys, and Night Crawlers / Worms Using Vending Machines by North American Vending
Vending Machines by North American Vending: The Toughest Vending Machines on the Market - Written Lifetime Guarantee
Vending Machines News:
Vending Machines Vending Machines News Vending Machines News
Vending Machines Vending Machines
Pigeon Forge Cabins and Gatlinburg Cabins
Pigeon Forge Cabins
Pigeon Forge Cabins
Pigeon Forge Rentals and Gatlinburg Rentals
Cabin Rentals Chalet Rentals and Vacation rentals in the Great Smoky Mountains.
Yahoo Directory Listing:
Auntie Belham's Realty & Nightly Rentals - Tennessee > Gatlinburg Cabins > Vacation Rentals in the Yahoo! Directory Auntie Belham's Realty & Nightly Rentals - offers Gatlinburg cabins and chalets for family vacations in the Great Smoky Mountains close to attractions such as Dollywood, Nascar Cafe, golfing and skiing options, Harrah's Casino, and more.
Open Directory Listing:
Auntie Belham's Realty and Nightly Rentals - Tennessee: Localities: G: Gatlinburg: Travel and Tourism: Lodging: Vacation Rentals: Gatlinburg Cabins and Chalets
Auntie Belham's Realty and Nightly Rentals - Offers log cabin, cottage, and chalets for rental. Descriptions of properties and amenities, photos, policies, driving directions, and information about the area.
Escape the Big City, Return to Nature: Book Gatlinburg Cabins Online in the Great Smoky Mountains
Auntie Belham's shows you what's happening day and night in the entire area from a capsule history to special events and holiday extravaganzas, of which there are many. Handpicked restaurants, sights, shopping and more are listed, providing a bird's eye view of your entire vacation ambiance, from beginning to end. The Gatlinburg Tennessee area in the Great Smoky Mountains includes Pigeon Forge, Gatlinburg and Sevierville.
Gatlinburg Cabins
Gatlinburg Cabins by Auntie Belham's Extends Invitation to President George W. Bush
Gatlinburg Cabins by Auntie Belham's Extends Invitation to President George W. Bush
Gatlinburg Cabins by Auntie Belham's extends invitation to President George W. Bush
Gatlinburg Cabins by Auntie Belham's Extends Invitation to President George W. Bush
0 Comments:
Post a Comment
<< Home