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Motorola continues profitable progress in Q3

Motorola has reported a net profit of $479m (£264m) on sales on $8.62bn for the third quarter of its fiscal 2004. Both figures...

Motorola has reported a net profit of $479m (£264m) on sales on $8.62bn for the third quarter of its fiscal 2004....

Both figures are sharply higher than for the same period last year.

Net profit was up 313% on 2003's figure of $116m and sales were up 26%  on the $6.83bn reported last year.

Sales were up by more than 10% in all the company's major product segments, with sales in the key personal communications segment up 34% compared with the year-ago quarter to $3.9bn. Sales for the broadband communications segment sales were up 31%.

This marks the third consecutive quarter of strong sales growth, according to chairman and CEO Ed Zander.

It also marks a sustained turnaround from the company's disastrous recent financial performance, when the company lost more than $6bn in total for 2001 and 2002 while annual sales fell from $37.3bn in 2000 to $26.7bn in 2002.

Motorola expects that sales for the fourth quarter of 2004 will be between $9.3bn and $9.6bn, 16% to 20% higher than for the fourth quarter of 2003.

David Legard writes for IDG News Service

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