Motorola makes second-half predictions, apologizes

CHICAGO, United States—Motorola maintained its forecast for the second half of 2001, but fell shy of making any predictions for next year.
President and Chief Operating Officer Robert Growney said the company anticipates revenues to increase in the third quarter from US$7.5 billion in the second quarter. He expects the fourth-quarter rise to be another 5 percent.
In addition, Motorola executives apologized to the company’s shareholders and took the blame for the company’s misfortunes, including its first earnings loss in 15 years. Chief Executive Christopher Galvin said management had learned from its losses and will respond better to the dramatic changes in the market.