Motorola, Inc. reported sales of $8.8 bln for the third quarter of 2007. The GAAP earnings from continuing operations for the third quarter of 2007 were $0.02 per share, which includes net charges of $0.04 per share related to charges associated with previously announced workforce reductions and a write-down of intangible assets.
“We are pleased with the improvement in the financial performance of mobile devices and we look forward to building upon the progress we have made,” said Ed Zander, chairman and chief executive officer.
“We have strengthened our leadership position in broadband video, WiMAX, next generation government and public safety and the enterprise mobility markets. With our focus on these key opportunities and the initiatives we are taking in mobile devices we will further improve our performance and create long-term shareholder value.”
“During the third quarter, we maintained our focus on increasing cash flow, enhancing profitability and driving growth,” said Tom Meredith, chief financial officer. “We are beginning to see improvements in our cash conversion cycle and operating cash flow which will lead to increased financial flexibility.”
Mobile Devices segment sales were $4.5 bln, down 36% compared with the year-ago quarter. Excluding highlighted items, the segment incurred an operating loss of $138 mln, compared with operating earnings of $843 mln in the year-ago quarter. Motorola’s share of the global handset market for the quarter is estimated to be 13%.
During the quarter, Mobile Devices shipped 37.2 mln handsets — including more than 900,000 RAZR 2s, it introduced the Moto U9 music device, a special edition RAZR 2 for the holiday season, seven new W-Series handsets, and the iC602 dual-mode iDEN/CDMA device.
Motorola also expanded the Z6 line with the introduction of ROKR Z6m and Z6tv and introduced an ultra high speed WiMAX chipset solution, optimized for both size and low power consumption.
Home and Networks Mobility had segment sales of $2.4 bln, up 6% compared with the year-ago quarter, having shipped its two millionth IPTV set-top device, just five months after reaching the 1 mln milestone.
It also conducted the world’s first WiMAX 802.16e mobile handoff during the WiMAX World Conference in
Enterprise Mobility Solutions had segment sales of $2.0 bln, up 47% compared with the year-ago quarter.
