BGR: The Three Biggest Letters In Tech » Motorola

Microsoft wins German ban on Motorola phones

Dan Graziano — Thu, 24 May 2012 20:30:40 +0000

A German regional court on Thursday issued an injunction against newly-acquired Motorola Mobility for infringing one of Microsoft’s patents, according to FOSS Patents. The manufacturer is banned from selling its Android-powered devices that infringe Microsoft’s EP1304891 patent, which covers “communicating multi-part messages between cellular devices using a standardized interface.” The sales ban, for the time being, is subject to additional confirmation. If confirmed however, it is enforceable with a bond of $31.4 million. Patent expert Florian Mueller notes that since the patent covers “operating system-level functionality, the modifications ‘Googlorola’ would have to make to Android to work around this ruling would lead to significant complications.” Furthermore, apps that make use of Android’s messaging layer will apparently have to be completely rewritten.

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Google closes Motorola acquisition

Zach Epstein — Tue, 22 May 2012 13:10:18 +0000

In line with earlier reports, Google on Tuesday finalized its acquisition of Motorola Mobility. The $12.5 billion merger was approved by regulators in China on Monday after having been given the green light by the United States Department of Justice this past February. Chinese regulators did stipulate terms for its approval, however, namely that Google must continue to make Android open-source and freely available. Former Motorola Mobility CEO Sanjay Jha has stepped down and Google’s Dennis Woodside will replace him as chief executive. “I’m excited to announce today that our Motorola Mobility deal has closed,” Google CEO Larry Page wrote in a letter published on Google’s blog. “Motorola is a great American tech company that has driven the mobile revolution, with a track record of over 80 years of innovation, including the creation of the first cell phone. We all remember Motorola’s StarTAC, which at the time seemed tiny and showed the real potential of these devices. And as a company who made a big, early bet on Android, Motorola has become an incredibly valuable partner to Google.” An unconfirmed report on Monday claimed that the merger will result in layoffs at Motorola.

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Motorola won’t update DROID 3, DROID X2 to Android 4

Dan Graziano — Tue, 22 May 2012 05:00:53 +0000

Motorola recently updated its Android release timeline and revealed that certain devices will remain on Android 2.3 rather than receiving an upgrade to Android 4.0 Ice Cream Sandwich. The handsets in question are both modern and more than capable of running the latest Android operating system, however the vendor claims the latest software won’t “improve” the devices, and that’s why updates will not be released. Both the DROID 3 and DROID X2 will remain on Android 2.3, despite the fact that both handsets run dual-core NVIDIA Tegra 2 processors and were released not even a year ago.

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Motorola layoffs imminent after Google buyout, report claims

Dan Graziano — Mon, 21 May 2012 20:30:40 +0000

Following China’s recent regulatory approval, Google’s $12.5 billion acquisition of Motorola Mobility is expected to close in the next two days. Motorola employees may not be celebrating, however. TechCrunch reported on Monday that layoffs will be hitting the manufacturer imminently. When Google purchased DoubleClick, the company had 1,600 employees, 40% of that which were laid off following the buyout. At the time Google’s acquisition was announced, Motorola Mobility had 19,000 employees. The struggling vendor has already laid off 800 employees as part of a restructuring plan, and now it looks like the company may be forced to go through another round of job cuts.

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China approves Google’s Motorola buy, demands Android remain open

Zach Epstein — Mon, 21 May 2012 11:50:31 +0000

The United States Department of Justice approved Google’s $12.5 billion acquisition of Motorola Mobility this past February, but the massive deal awaited the blessing of one more major regulatory body before it could go through. This past weekend, China’s Ministry of Commerce followed the DOJ’s lead and granted Google permission to acquire the struggling vendor. China’s MOC did have a condition Google must honor if it moves forward with the deal, however: Android must remain open-source and freely available. Google announced last August that it intended to acquire Motorola Mobility for $12.5 billion, and the deal is expected to close in the coming months.

Android and Apple continue to grow in Q1 as RIM and Microsoft slide

Dan Graziano — Wed, 02 May 2012 01:00:56 +0000

ComScore on Tuesday announced the results of a three month study on the smartphone market in the United States. The research firm found Google’s Android operating system has continued to grow, increasing its market share from 47.3% in December to 51% in March. Apple’s iOS accounted for 30.7% of all smartphone subscribers in the U.S., an increase from 29.6% in December. Research In Motion ranked third with a 12.3% share, followed by Microsoft’s Windows Phone at 3.9% and Symbian with a 1.4% share. The study also revealed that more than 106 million Americans own a smartphone, up 9% from December, while 234 million Americans age 13 and older used a mobile device during the quarter. Samsung ranked as the top mobile device vendor with 26% of U.S. mobile subscribers, followed by LG with a 19.3% share and Apple with 14%. A second chart from comScore follows below.

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Motorola posts $86 million Q1 loss, tops revenue estimates

Zach Epstein — Tue, 01 May 2012 21:25:14 +0000

Motorola Mobility on Tuesday reported its financial results for the first quarter. The struggling vendor managed $3.08 billion in sales, narrowly topping Wall Street’s $3.03 billion revenue estimates as Motorola continued to work toward the finalization of Google’s $12.5 billion acquisition. Motorola’s loss of $0.28 per share, or $86 million, missed analysts’ consensus by a penny per share, however. Revenue from the company’s mobile division increased 3% as Motorola shipped 5.1 million smartphones in the quarter, but total device shipments slid to 8.9 million units as demand dropped following the holidays. ”The introduction of RAZR MAXX marked another successful addition to the Motorola product family and contributed to our growth in smartphones,” Motorola Mobility CEO Sanjay Jha said. “Our Home business delivered another solid quarter highlighted by improvement in year-over-year profitability. We continue to work closely with Google to complete the proposed merger during the first half of the year.” Motorola’s full press release follows below.

Motorola Mobility Announces First Quarter Financial Results

LIBERTYVILLE, Ill., May 1, 2012 /PRNewswire/ –

First Quarter Financial Highlights

Net revenues of $3.1 billion

Non-GAAP net loss of $0.03 per share compared to net loss of $0.08 per share in first quarter 2011; GAAP net loss of $0.28 per share compared to net loss of $0.27 per share in first quarter 2011

Mobile Devices net revenues of $2.2 billion; Non-GAAP operating loss of $85 million; GAAP operating loss of $121 million

Shipped 8.9 million mobile devices, including 5.1 million smartphones

Home net revenues of $884 million; Non-GAAP operating earnings of $91 million; GAAP operating earnings of $68 million

Click here for printable press release and financial tables.

Motorola Mobility Holdings, Inc. (NYSE: MMI) today reported net revenues of $3.1 billion in the first quarter of 2012, up 2 percent compared to the first quarter of 2011. The GAAP net loss in the first quarter 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 first quarter of 2011. On a non-GAAP basis, the net loss in the first quarter 2012 was $10 million, or $0.03 per share, compared to a net loss of $25 million, or$0.08 per share, in the first quarter of 2011.

The Company had operating cash outflow of $98 million in the first quarter. Total cash at the end of the quarter was $3.5 billion and includes cash, cash equivalents, and cash deposits.

Details on non-GAAP adjustments and the use of non-GAAP measures are included later in this press release and in the financial tables.

“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 chief executive officer, Motorola Mobility. “We continue to work closely with Google to complete the proposed merger during the first half of the year.”

Operating Results

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.

Mobile Devices highlights:

Launched RAZR™ MAXX, the longest-lasting 4G LTE smartphone, allowing customers to talk for over 21 hours on a single charge, and DROID 4 by Motorola, the thinnest and most powerful 4G LTE QWERTY smartphone.

Expanded budget-friendly smartphone portfolio in China, Europe, and Latin America with the introduction of MOTOLUXE^™, a slim touchscreen device and Motorola DEFY^™ MINI, the ideal “life proof” device for the active consumer.

Teamed up with Bubba Watson, four time PGA Tour winner, including the 2012 Masters to introduce MOTOACTV^™ Golf Edition, a cutting-edge GPS golf tracker, virtual caddy and online clubhouse.

Home segment net revenues in the first quarter were $884 million, down 2 percent compared with the year-ago quarter. GAAP operating earnings improved to$68 million, compared to $53 million in the year-ago quarter. Non-GAAP operating earnings were $91 million compared to $81 million in the year-ago quarter.

Home highlights:

Introduced Connected Home Gateway, the industry’s first plug-and-play solution for home monitoring and control services.

Provided equipment and services to Asian Broadcasting Network for launch of Malaysia’s most advanced digital cable TV network.

Industry recognition of our Medios multi-screen software portfolio including SecureMedia® named “Best Rights and Asset Management Solution” at 2012 IPTV World Forum.

Announced global distributor and integrator agreement with Edgecast’s Content Delivery Network platform, enabling advanced multi-screen service delivery to consumers.

Merger Update

As previously announced on August 15, 2011, Motorola Mobility and Google Inc. (“Google”) (NASDAQ: GOOG) entered into a definitive agreement for Google to acquire Motorola Mobility for $40.00 per share in cash, or a total of approximately $12.5 billion.

Motorola Mobility and Google continue to work closely with the authorities in China for approval on the acquisition. The transaction has been investigated and cleared without conditions in all other jurisdictions with pre-closing clearance requirements. We continue to expect the transaction to close during the first half of 2012.

For more information on the proposed merger, please visit http://investors.motorola.com.

Conference Call and Webcast
In light of the pending acquisition of the Company by Google, the Company does not conduct a financial analyst conference call or webcast following the release of its earnings information nor provide financial guidance. To access the first quarter results and other financial information, please visithttp://investors.motorola.com.

Consolidated GAAP Results
A comparison of results from operations is as follows:

First Quarter

(In millions, except per share amounts) 2012 2011

Net revenues $3,078 $3,032

Gross margin 754 755

Operating loss (70) (36)

Loss before income taxes (69) (51)

Net loss ($86) ($81)

Basic loss per common share ($0.28) ($0.27)

Diluted loss per common share ($0.28) ($0.27)

Weighted average common shares outstanding

Basic 302.4 294.7

Diluted 302.4 294.7

Non-GAAP Adjustments for first quarter 2012 and 2011

First Quarter

Per Share Impact 2012 2011

GAAP Loss per Common Share ($0.28) ($0.27)

Merger-related costs * 0.06 ——

Stock-based compensation expense 0.16 0.14

Intangible assets amortization expense 0.04 0.05

Total Non-GAAP Adjustments ** 0.25 0.19

Non-GAAP Loss per Common Share ($0.03) ($0.08)

Definitions

* Merger-related costs primarily consisting of legal and banking fees.

** Earnings or loss per share (EPS) impact may not add up due to rounding.

Use of Non-GAAP Financial Information
In addition to the GAAP results included in this presentation, Motorola Mobility also has included non-GAAP measurements of results. Motorola Mobility has provided these non-GAAP measurements to help investors better understand Motorola Mobility’s core operating performance, enhance comparisons of Motorola Mobility’s core operating performance from period to period, and allow better comparisons of Motorola Mobility’s operating performance to that of its competitors. Among other things, the Company’s management uses these operating results, excluding the identified items, to evaluate the performance of its businesses and to evaluate results relative to certain incentive compensation targets. Management uses operating results, excluding these items, because it believes this measurement enables it to make better period-to-period evaluations of the financial performance of its core business operations. The non-GAAP measurements are intended only as a supplement to the comparable GAAP measurements and the Company compensates for the limitations inherent in the use of non-GAAP measurements by using GAAP measures in conjunction with the non-GAAP measurements. As a result, investors should consider these non-GAAP measurements in addition to, and not in substitution for or as superior to, measurements of financial performance prepared in accordance with GAAP.

Non-GAAP adjustments are comprised of the following items:

Merger-related costs: The Company has excluded the effects of merger-related costs from its non-GAAP operating expenses and net income measurements because the Company believes that this item does not reflect expected future operating earnings or expenses and do not contribute to a meaningful evaluation of the Company’s current operating performance or comparisons to the Company’s past operating performance.

Stock-based compensation expense: The Company has excluded stock-based compensation expense from its non-GAAP operating expenses and net income measurements. Although stock-based compensation is a key incentive offered to our employees and the Company believes such compensation contributed to the revenue earned during the periods presented and also believes it will contribute to the generation of future period revenues – the Company continues to evaluate its performance excluding stock-based compensation expense primarily because it represents a significant non-cash expense. Stock-based compensation expense will recur in future periods.

Intangible assets amortization expense: The Company has excluded intangible assets amortization expense from its non-GAAP operating expenses and net income measurements, primarily because it represents a significant non-cash expense and because the Company evaluates its performance excluding intangible assets amortization expense. Amortization of intangible assets is consistent in amount and frequency but is significantly affected by the timing and size of the Company’s acquisitions. Investors should note that the use of intangible assets contributed to the Company’s revenues earned during the periods presented and will contribute to the Company’s future period revenues as well. Intangible assets amortization expense will recur in future periods.

Details of the above non-GAAP adjustments and reconciliations of the non-GAAP measurements to the corresponding GAAP measurements can be found in the financial tables.

Business Risks

Motorola Mobility cautions the reader that this communication includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include, but are not limited to, the expected closing date of the proposed Google transaction and the expected timeframe for regulatory decisions. Forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those indicated in such forward-looking statements including, but not limited to, the ability of the parties to consummate the proposed transaction and the satisfaction of the conditions precedent to consummation of the proposed transaction, including the ability to secure regulatory and other approvals at all or in a timely manner; and the other risks and uncertainties contained and identified in Motorola Mobility’s filings with the Securities and Exchange Commission (the “SEC”), any of which could cause actual results to differ materially from the forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. Motorola Mobility undertakes no obligation to update the forward-looking statements to reflect subsequent events or circumstances or update the reasons that actual results could differ materially from those anticipated in forward-looking statements, except as required by law.

Verizon’s Summer / Fall 2012 smartphone roadmap

Jonathan S. Geller — Thu, 26 Apr 2012 13:30:41 +0000

While Samsung’s Galaxy S3 has been the star of the rumor show for the past few months — with BGR leading the pack — we now have a clear picture of the smartphone landscape for late summer and early fall this year. BGR has exclusively learned details about most, if not all of Verizon Wireless’s flagship smartphone launches for the remainder of 2012, and things are definitely looking good for Verizon subscribers in 2012. All the details follow after the break.

For starters, Verizon Wireless will indeed be offering the Samsung Galaxy S3 — Verizon notably passed on the Galaxy S II in favor of the Samsung Galaxy Nexus — but we don’t know when the carrier will start selling Samsung’s new flagship smartphone. While we have a clear picture of Verizon’s fall smartphone lineup, we would assume the Galaxy S III will be available over the summer.

Speaking of Android smartphones, there are “multiple” Motorola RAZR models due to hit Verizon in the coming months, one of which will most likely be the Motorola RAZR HD (or a name similar to that) with a larger and clearer display.

HTC might actually be the star of the Android show this time around though, as we have been told HTC will have a major flagship device hitting Verizon shelves in the fall. It’s said to feature a whopping 5-inch 1080p HD display (a non-PenTile screen), a new chipset that includes a quad-core Krait CPU and an Adreno 320 GPU, HTC Sense 5 and a Scribe pen. Yes, HTC is launching a Galaxy Note competitor.

Lastly, as we reported late last year, Apple’s next-generation iPhone is currently slated for a fall release.

Apple’s iPhone and iPad violate one Motorola patent, ITC rules

Dan Graziano — Tue, 24 Apr 2012 18:15:13 +0000

The International Trade Commission on Tuesday ruled in favor of Motorola Mobility in its patent infringement claim against Apple. The Cupertino-based company’s iPhone and iPad were found to be in violation of Motorola’s Wi-Fi technology patent, however they did not infringe on three other patents that Motorola asserted against the iPhone-maker. “We are pleased that the ALJ’s initial determination finds Apple to be in violation of Motorola Mobility’s intellectual property, and look forward to the full commission’s ruling in August,” Motorola told CNET in a statement. The ruling is preliminary and still must be approved by the ITC’s six-member commission.

[Via CNET]

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Google may use Motorola acquisition to emulate Apple’s iPhone strategy

Dan Graziano — Tue, 17 Apr 2012 21:35:17 +0000

Google’s $12.5 billion acquisition of Motorola Mobility currently awaits regulatory approval in China and then it will be complete. When the Internet giant proposed the buyout last summer, it confirmed that it planned to protect its Android mobile operating system with Motorola’s extensive patent portfolio. The company also ensured partners that a “firewall” would be put in place between the development of Android and Motorola’s handset division. According to a recent report, however, Google may have originally wanted to buy Motorola for its patents, but it has come to realize that it would rather follow in Apple’s footsteps. Read on for more.

The Mountain View-based company wants to design and sell its own smartphone hardware and software, similar to what Apple does with iOS and the iPhone and iPad, Business Insider reported on Tuesday. Google may not pursue this plan due to strong objections from a number of its partners according to the report. An executive who purportedly met with one of Google’s partners told Business Insider that every conversation during their meeting ended with anger and dismay towards Google, and there is a chance that Google’s Android partners will try to band together and demand that it sell Motorola’s handset business.

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High-definition version of Motorola’s RAZR in the works

Dan Graziano — Mon, 16 Apr 2012 23:00:10 +0000

The name DROID RAZR HD has appeared in the EXIF data from a series of images uploaded to Picasa by a Motorola employee. The EXIF data shows that the handset is running Android 4.0.3 and its camera is equipped with a f/2.4 aperture camera. The photos in question were uploaded by Vic Yu, who is a software engineer and program manager at Motorola Mobility according to his Google+ and LinkedIn profiles. Last month, the first image of what was believed to be the unannounced DROID Fighter surfaced on a Chinese forum. The handset is said to be equipped with the same massive 3,300 mAh battery that is found in the RAZR MAXX and a 4.6-inch high-definition display. The phone also lacked the Android navigation buttons found on earlier RAZR models, suggesting that it makes use of the on-screen buttons found in Android 4.0 Ice Cream Sandwich. The DROID RAZR HD could possibly arrive on Verizon Wireless as the DROID Fighter, although nothing is confirmed for the time being. It should be noted that EXIF data can easily be manipulated, but an image of the data can be found after the break.

[Via Droid-Life]

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LG plans to launch a ‘thinking smartphone’

Dan Graziano — Fri, 06 Apr 2012 23:10:03 +0000

LG has yet to find the same success in the smartphone market that Samsung, HTC and Motorola have seen, but the company’s managing director Kwon Bong-suk told a Korean news website that LG will soon introduce a game-changing “thinking smartphone.” The executive confidently stated that the next mobile innovation doesn’t necessarily have to come from Apple, saying that LG can identify with the “universal value” that all consumers seek. Unlike its competitors, LG will refrain from adding more features and entertainment options to its devices, instead looking to build a product that will be responsive to a user’s particular needs. Bong-suk also noted the importance of the low-end market and said the company is interested in releasing a smartphone for $100. Despite the low price, Bong-suk says LG won’t compromise on the quality of the user experience. The director concluded by saying that “preparations for the development of the thinking smartphone are underway.”

[Via The Verge]

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Google CEO Larry Page talks Android activations and Motorola acquisition

Dan Graziano — Fri, 06 Apr 2012 21:45:46 +0000

Google CEO Larry Page stated in a blog post on Thursday that the company’s Android platform is “on fire.” The CEO boasted that there are now more than 850,000 Android devices activated each day through a network of 55 manufacturers and more than 300 carriers. Page called Android a “tremendous example of the power of partnership, and it just gets better with each version.” He went on to explain his excitement for the Motorola acquisition and “the opportunities to build great devices capitalizing on the tremendous success and growth of Android.” The CEO then reiterated the benefits surrounding Android’s open ecosystem, maintaining that “we have no plans to change that.” The Mountain View-based company in February stated that Android activations were up 250% year-over-year. Google also previously announced that the Android Market is home to more than 450,000 apps.

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Android and iOS account for more than 80% of U.S. smartphone market

Dan Graziano — Wed, 04 Apr 2012 11:45:57 +0000

Over the past three months, Apple’s iOS operating system and Google’s Android mobile platform both continued to grow — according to comScore, they now account for a combined 80.3% of the U.S. smartphone market. The research showed that 234 million Americans aged 13 and older use mobile devices. Samsung is the most popular manufacturer with a 25.6% share of the U.S. mobile market, followed by LG with a 19.4% share and Apple with 13.5%. Motorola and HTC round out the top five with 12.8% and 6.3%, respectively. More than 104 million Americans now own smartphones, up 14% from November, with Google Android’s operating system surpassing a 50% market share for the first time ever. Apple’s iOS platform ranked second with 30.2% of the smartphone market, followed by RIM with a 13.4% share, Microsoft at 3.9% and Symbian with 1.5%. ComScore’s press release can be found after the break.

comScore Reports February 2012 U.S. Mobile Subscriber Market Share
Android Captures Majority Share of U.S. Smartphone Market

RESTON, VA, April 3, 2012 – comScore, Inc. (NASDAQ: SCOR), a leader in measuring the digital world, today released data from the comScore MobiLens service, reporting key trends in the U.S. mobile phone industry during the three month average period ending February 2012. The study surveyed more than 30,000 U.S. mobile subscribers and found Samsung to be the top handset manufacturer overall with 25.6 percent market share. Google Android continued to grow its share in the U.S. smartphone market, crossing the 50-percent threshold in February to capture a majority share for the first time in its history.

OEM Market Share

For the three-month average period ending in February, 234 million Americans age 13 and older used mobile devices. Device manufacturer Samsung ranked as the top OEM with 25.6 percent of U.S. mobile subscribers, followed by LG with 19.4 percent share. Apple captured the #3 ranking in February with 13.5 percent of mobile subscribers (up 2.3 percentage points), followed by Motorola at 12.8 percent. HTC moved into the #5 position in February at 6.3 percent (up 0.4 percentage points).

More than 104 million people in the U.S. owned smartphones during the three months ending in February, up 14 percent versus November. Google Android’s share of the smartphone market eclipsed 50 percent in February, an increase of 17 percentage points since February 2011. Apple ranked second with 30.2 percent of the smartphone market (up 5 percentage points versus year ago), followed by RIM at 13.4 percent, Microsoft at 3.9 percent and Symbian at 1.5 percent.

In February, 74.8 percent of U.S. mobile subscribers used text messaging on their mobile device, up 2.2 percentage points. Downloaded applications were used by 49.5 percent of subscribers (up 4.6 percentage points), while browsers were used by 49.2 percent (up 4.8 percentage points). Accessing of social networking sites or blogs increased 3.1 percentage points to 36.1 percent of mobile subscribers. Game-playing was done by 32.3 percent of the mobile audience (up 2.6 percentage points), while 24.8 percent listened to music on their phones (up 3.1 percentage points).

European regulators probe Motorola following Microsoft, Apple complaints

Dan Graziano — Tue, 03 Apr 2012 21:55:08 +0000

European regulators are investigating Motorola Mobility for allegedly overcharging Microsoft and Apple for use of its industry standard patents in their products, Reuters reported on Tuesday. Both companies filed complaints with the European Commission, which is now conducting the investigation that will look to determine whether Motorola failed to honor its “irrevocable commitments” made to standard-setting organizations. In February, Microsoft had asked antitrust regulators to intervene in its patent dispute with Motorola, claiming the company “has refused to make its patents available at anything remotely close to a reasonable price.” In its complaint, the software giant also named Google, which is in the process of acquiring Motorola. Regulators confirmed that they are investigating Samsung as well in order to determine whether or not the company violated European antitrust laws in its patent disputes with Apple.

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	First Quarter
(In millions, except per share amounts)	2012	2011

Net revenues	$3,078	$3,032
Gross margin	754	755
Operating loss	(70)	(36)
Loss before income taxes	(69)	(51)
Net loss	($86)	($81)

Basic loss per common share	($0.28)	($0.27)
Diluted loss per common share	($0.28)	($0.27)

Weighted average common shares outstanding
Basic	302.4	294.7
Diluted	302.4	294.7

	First Quarter
Per Share Impact	2012	2011
GAAP Loss per Common Share	($0.28)	($0.27)

Merger-related costs *	0.06	——
Stock-based compensation expense	0.16	0.14
Intangible assets amortization expense	0.04	0.05
Total Non-GAAP Adjustments **	0.25	0.19

Non-GAAP Loss per Common Share	($0.03)	($0.08)