Posts net earnings of $12m, compared to net loss of $397m for same period last year
Motorola has reported net sales of $5.45 billion for the third quarter of 2009, down 27%, compared to $7.48 billion for the same period last year.
Operating income for the quarter was $128m, compared to operating loss of $452m for the same period last year. Gross margin for the quarter remained flat compared to the same period a year ago. The company has posted net earnings of $12m or EPS of $0.01 for the third quarter of 2009, compared to net loss of $397m or EPS of $0.18 for the same period last year.
For the quarter ended September 30, 2009, mobile devices segment sales were $1.7 billion, a decrease of 46% compared to $31.1 billion, Home and network mobility segment revenues totalled $2.01 billion, a decrease of 15% compared to $2.37 billion and revenues of enterprise mobility solutions segment totalled $1.77 billion, a decrease of 13% compared to $2.03 billion.
The company shipped 13.6m handsets and 3.3m digital entertainment devices. It estimates global handset market share of 4.7%.
Total cash at the end of the quarter was $7.2 billion, an increase of $700m compared to the end of the second quarter. The company generated $616m of positive operating cash flow during the quarter and expects to continue to generate positive cash flow in the fourth quarter.
Greg Brown, CEO of broadband mobility solutions and co-CEO of Motorola, said: Broadband Mobility Solutions performed well during the quarter. We continued to manage our cost structure and also delivered solid operating margins. We secured additional contract wins and launched new devices, including the MC9500, the industry’s most rugged mobile computer. As the economic environment improves, we believe our businesses are well positioned for continued success.
The company expects earnings from continuing operations in the range of $0.07 to $0.09 per share for the fourth-quarter. It excludes charges associated with the company’s operating expense reduction initiatives and other items.