SCHAUMBURG, Ill.-Motorola Inc. slightly lowered its mobile phone sales forecast for the coming year, but reported revenues on track for a recovery in its business.
Motorola Inc. reported sales of $6 billion for its first quarter and net earnings of $169 million. The company’s net sales were slightly lower than the $6.2 billion it reported in the same quarter last year, but far above the $449 million net loss it reported in the same quarter last year.
Motorola said it expects to sell 430 million mobile phones, which is at the low end of its previous range of 430 to 440 million. The company’s stock was down slightly after the news to about $7.65 per share.
Motorola reported sales in its Personal Communications Segment up 2 percent over the same quarter last year, but a 6 percent decline in orders. The company scored operating earnings of $114 million in the division, up from a loss of $35 million in the year-ago quarter.
In the company’s Semiconductor Products Segment, Motorola reported sales up 2 percent over the same quarter last year, but a 16 percent decline in orders. The segment reported an operating loss of $121 million, up from the $238 million loss during the same quarter last year.
Motorola president Mike Zafirovski said the company continues to improve and streamline its business, but that there is little sign of improvement in the industry.
