DJ Motorola Results -2: 1Q Fincl Table, Comment >MOT
10 Apr 17:49
Motorola Inc. - Schaumburg,Ill.
1st Quar March 31:
2001 2000
Sales$7,752,000,000 $8,768,000,000
Net income a (533,000,000) b 448,000,000
Avg shrs (basic) 2,194,000,000 2,146,000,000
Avg shrs (dlt) 2,194,000,000 2,194,000,000
Shr earns (basic)
Net income a (.24) b .21
Shr earns (diluted)
Net income a (.24) b .20
Figures in parentheses are losses.
a. Includes charges. Excluding charges, the company had a loss of $206
million, or 9 cents a share.
b. Includes charges. Excluding items, the company earned $482 million, or 21
cents a diluted share.
Motorola Corp.'s (MOT) latest first quarter operating loss of 9 cents a
share, on revenue of $7.75 million falls below revised consensus estimates.
This is the company's first quarterly loss in 16 years.
Analysts surveyed by Thomson Financial/First Call put Motorola's first
quarter loss at 7 cents a share, on revenue of $7.97 billion.
The No. 2 cellular phone maker had warned in November and again in February
of weak first quarter results, due to weak cell phone and semiconductor demand.
(MORE) DOW JONES NEWS 04-10-01
05:49 PM
DJ REPEAT: Motorola Results -2: 1Q Fincl Table, Comment >MOT
10 Apr 17:51
Motorola Inc. - Schaumburg,Ill.
1st Quar March 31:
2001 2000
Sales $7,752,000,000 $8,768,000,000
Net income a (533,000,000) b 448,000,000
Avg shrs (basic) 2,194,000,000 2,146,000,000
Avg shrs (dlt) 2,194,000,000 2,194,000,000
Shr earns (basic)
Net income a (.24) b .21
Shr earns (diluted)
Net income a (.24) b .20
Figures in parentheses are losses.
a. Includes charges. Excluding charges, the company had a loss of $206
million, or 9 cents a share.
b. Includes charges. Excluding items, the company earned $482 million, or 21
cents a diluted share.
Motorola Corp.'s (MOT) latest first quarter operating loss of 9 cents a
share, on revenue of $7.75 billion falls below revised consensus estimates.
This is the company's first quarterly loss in 16 years.
Analysts surveyed by Thomson Financial/First Call put Motorola's first
quarter loss at 7 cents a share, on revenue of $7.97 billion.
The No. 2 cellular phone maker had warned in November and again in February
of weak first quarter results, due to weak cell phone and semiconductor demand.
(MORE) DOW JONES NEWS 04-10-01
05:51 PM
DJ Motorola Results -3: Shrs At $12.62 On Instinet >MOT
10 Apr 18:01
Motorola said a continuing downturn in the U.S. economy is beginning to spill
over to the rest of the world.
"The high-tech sector, which has been hard hit, is already in a recession,"
Chief Executive Christopher Galvin said in a press release Tuesday. "These
issues, plus interest rate policy or energy prices, cannot be controlled by
Motorola."
However, the company said it is continuing its cost-cutting measures through
the first quarter. These efforts began last year and included the elimination
of about 22,000 positions from a work force of 147,000.
The cost-cutting steps are necessary to improve the balance sheet and
earnings, Motorola said.
Shares of the cellular phone giant were recently quoted at $12.62 on
Instinet, down from Tuesday's close of $13.
(MORE) DOW JONES NEWS 04-10-01
06:01 PM
DJ Motorola Results -4: Current Liabilities $13.62B >MOT
10 Apr 18:07
As of the end of the first quarter, Motorola had cash and cash equivalents of
about $4.05 billion, with total current liabilities of about $13.62 billion.
Total assets as of this date were $39.52 billion. Total liabilities and
stockholders' equity at the end of the first quarter were $39.52 billion.
Motorola sees positive cash flow from its businesses in 2001, and expects to
be cash flow positive for the rest of the year.
In the latest quarter, Motorola cut its accounts receivable and inventories
by more than $1.7 billion.
In recent days, analysts have been concerned about Motorola's cash position,
due to a recent Securities and Exchange Commission filing that discussed
Motorola's access to the commerical paper market. The company's debt ratings
are under review for a possible downgrade by credit agencies.
(MORE) DOW JONES NEWS 04-10-01
06:07 PM
DJ Motorola Results -5: PCS 1Q Op Loss $402M Vs Op Net $53M
10 Apr 18:25
Motorola's total notes payable and current portion of long-term debt were
$4.94 billion as of March 31.
In the latest first quarter, Motorola incurred a pretax charge of $279
million, or 15 cents a share aftertax, due mainly to cost-reduction and
product-portfolio changes, partly offset by investment gains. In the year-ago
first quarter, Motorola incurred a charge of $39 million pretax, or 1 cent a
share aftertax, due to merger costs offset by investment gains.
In the latest first quarter, personal communications unit sales, which
include cell phones, fell 29%. Orders fell 10% to $2.8 billion.
The unit incurred an operating loss of $402 million - due to lower global
demand for wireless telephones and increased manufacturing costs - compared
with operating earnings of $53 million a year ago.
In the Americas, sales and orders for wireless telephones decreased. In
Europe, sales were down more than 50% and orders were also down. In Asia, sales
were down more than 25%, while orders were higher, Motorola said.
(MORE) DOW JONES NEWS 04-10-01
06:25 PM
DJ Motorola Results -6: Semi Orders Dn 50% In Americas/Europe
10 Apr 18:30
Semiconductor unit sales fell 22% to $1.5 billion in the first quarter, while
orders fell 47% to $1.1 billion, said Motorola.
The unit had an operating loss of $131 million in the latest quarter due to
lower sales, compared with operating earnings of $128 million last year.
Orders fell by more than 50% inthe Americas and Europe, fell by more than
25% in Asia/Pacific and rose slightly in Japan, said Motorola.
Among the company's major markets, orders fell by more than 50% in wireless,
standard embedded solutions and networking/computers. They were down by more
than 25% in imaging/entertainment, and they decreased in transportation.
Motorola's broadband communications unit sales rose 21% to $818 million in
the first quarter, while orders rose 3% to $905 million.
Operating profits rose to $130 million in the broadband communications unit,
compared with $99 million in the year-ago first quarter.
The unit's Digital Network Systems experienced an increase of more than 25%
in order and sales in the first quarter, while its Internet Protocol Network
Systems' order and sales fell by more than 25%.
Transmission Network Systems orders and sales fell by more than 25%.
Satellite Broadcast & Network Systems experienced increased orders; satellite
broadcast sales rose by more than 25%.
(MORE) DOW JONES NEWS 04-10-01
06:30 PM
DJ Motorola Results -7: Global Telecom 1Q Op $54M Vs $281M
10 Apr 18:40
Global telecom unit sales fell 5% in the latest quarter to $1.7 billion,
while orders fell 14% to $1.5 billion.
Unit operating profits fell to $54 million in the latest first quarter,
compared with $281 million a year ago. Operating profits fell due to fewer
sales, increased manufacturing costs as a percentage of sales, and increased
research and development expenses, said Motorola.
In the Americas, sales rose by more than 50% and orders also rose.
In Europe and Asia, sales and orders fell by more than 50%.
Motorola's commercial, government and industrial systems unit sales rose 5%
to $1.1 billion. Orders rose 6% to $1.2 billion.
The unit's operating profits fell to $56 million in the latest quarter,
compared with $Two-way radio equipment sales were higher in the Americas and Europe, and
lower in Asia. Orders were higher in the Americas and lower in Europe. Orders
in Asia rose by more than 50% in the latest quarter.
(MORE) DOW JONES NEWS 04-10-01
06:40 PM |
