Motorola continues profitable progress in Q3


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 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

Email Alerts

Register now to receive IT-related news, guides and more, delivered to your inbox.
By submitting your personal information, you agree to receive emails regarding relevant products and special offers from TechTarget and its partners. You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy.

COMMENTS powered by Disqus  //  Commenting policy