Motorola prepares financials for future split

Schaumburg-based Motorola Inc. said it's still targeting the first quarter of 2011 to complete its split into two separate and publicly traded companies, and needs to organize its financials to help shareholders and investors better know about those companies and how they will report earnings, the company said in a federal filing on Monday.

The company aims to allocate certain costs and expenses to the newly designated four business segments that make up the two new companies, the filing said.

In February, Motorola said it would have one company with Mobile Devices and the Home businesses, both headed by CEO Sanjay Jha. These businesses will continue to focus on wireless phones and smartphones as well as set-top boxes and other related equipment for cable TV services.

The second company would include the Enterprise Mobile and Networks businesses headed by CEO Gregory Brown. These businesses will focus on two-way radios and other equipment for government and law enforcement agencies as well as installation and services related to the wireless network infrastructures.

Motorola will reclassify some information to assist investors in making comparisons of the company's historical financial information with future financials, the filing said.