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Earnings were $1.18 billion, or $1.94 per share, up from $1.15 billion or $1.90 per share, in 1996. (Consolidated Statements of Earnings) Despite the risks involved in expanding into new markets and technologies, Motorola's balance sheet remains strong. The ratio of net debt to net debt plus equity declined to 12.4% at the end of 1997 from 13.4% a year ago.
Motorola puts a huge amount of budget on research and development expenses, it rose to $2.748 billion in 1997. It is opening more and more research and development centers close to the customers it serves throughout the world. It introduced a broad line of advanced cellular handsets in major digital formats...
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