FYI. It seems that though MOT beat estimates, the rev number was a little light. biz.yahoo.com
<CHICAGO, Jan 17 (Reuters) - Motorola Inc. (NYSE:MOT - news), the world's second-largest wireless telephone maker, said on Monday its fourth-quarter profits more than tripled, topping Wall Street forecasts, on strong demand for wireless phones.
The Schaumburg, Ill.-based maker of computer chips and telecommunications equipment said operating profit, excluding one-time items, rose to $514 million, or 82 cents per share, from $159 million, or 26 cents per share, in the year-earlier quarter.
On average, analysts were forecasting 81 cents per share, according to First Call/Thomson Financial estimates.....
...Motorola said net sales rose to $8.5 billion from $8.3 billion in the same period a year ago.
''Results were in line, a little bit light on revenues maybe, but they made it up on the operating side,'' said Ed Snyder, telecommunications analyst with Hambrecht & Quist.
Some analysts had been looking for revenues of closer to $8.6 billion, saying the strong market for wireless phones should have generated even higher sales.
''The company has a bit of explaining to do (in Tuesday's conference call) on the slowdown in revenue growth,'' said Wojtek Uzdelewicz, telecommunications analyst with SG Cowen Securities. ''They did miss my handset (sales) projection.''......
......Motorola said global wireless phone demand was stronger than manufacturers and component suppliers had expected at the beginning of 1999, which led to component shortages.
The company said shortages would likely continue in the first quarter of 2000 and to a lesser degree in the second quarter, but said first quarter wireless phone sales would likely exceed fourth quarter 1999 levels.
Analysts said they were eagerly awaiting Motorola's Tuesday morning conference call, when the company was expected to update its 2000 earnings forecasts.
''The key thing here is going to be the guidance,'' said Tim Luke, telecommunications analyst with Lehman Brothers........ |
