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Technology Stocks : Nokia (NOK) -- Ignore unavailable to you. Want to Upgrade?

To: Eric L who wrote (19638)	4/17/2002 9:43:35 AM
From: Eric L	Respond to of 34857

re: Motorola "Better Than Expected" Hard hit on the semiconductor side but handsets profitable again. >> Motorola Losses Continue - Outlook Upbeat Though Cellular News April 17th 2002 Motorola has reported its fifth quarterly loss in a row, of US$449 million although this is better than most analysts had expected. Excluding exceptional items, the loss was US$174 million compared with a loss of US$211 million a year earlier. In the handset business, the company reported sales were US$2.3 billion, up 1% from the comparable year-ago quarter. Orders were US$2.5 billion, down 11% from a year ago. Excluding special items, the segment recorded operating earnings of US$108 million versus an operating loss of US$382 million a year ago. This was the segment's third consecutive quarter of positive operating earnings. Improvements in operating earnings, versus last year, were driven by improved gross margins, lower research and development expenses and lower selling, general and administrative expenses. Infrastructures sales were reported at US$1.1 billion, down 36% compared to a year ago. Orders declined 17% to US$1.3 billion. Excluding special items, the segment reported an operating loss of US$49 million, compared with operating earnings of US$42 million a year ago. The loss was due to lower sales. Christopher B. Galvin, Motorola's chairman and CEO, said, "These are challenging and turbulent markets worldwide and economic and political volatility makes predictions uncertain. Still, we continue to believe Motorola will return to profitability during the second half of 2002 and be profitable for the full year, excluding special items and barring any unforeseen political or economic disruptions. We also believe the U.S. and global economies should firm in the second half of 2002 and further improve in 2003 given stable world affairs. << - Eric -