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Motorola Posts 2nd-Quarter Loss
Jul 19, 2007
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Cell phone maker Motorola Inc. posted a second-quarter loss amid lower sales today, hurt by disappointing results in its largest segment, mobile devices. The company, which recently warned of a weak quarter, posted a net loss of US $28 million, or a penny per share, down from a profit of $1.38 billion, or $0.55 per share, in the same period a year ago. Net loss from continuing operations totaled $38 million, or $0.2 per share for the most recent quarter and included charges of 4 cents per share from job cuts and insurance litigation. Revenue fell 19 percent to $8.73 billion from $10.82 billion.

Sales at Motorola's mobile phone business fell 40 percent to $4.27 billion from $7.14 billion. The company's other two segments saw an increase in revenue.

Motorola said it shipped 35.5 million handsets during the quarter. (AP)

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