Motorola has reported a net income of $22m for the third quarter 2009, compared to a net loss of $391m in the year-ago quarter. Revenue declined 27% to $5.45bn. Skip related content
Operating income was $128m compared to an operating loss of $452m in the same period last year, while diluted EPS was $0.01 compared to diluted net loss per share of $0.18 a year ago. The company generated $616m of positive operating cash flow during the quarter. It also raised its 2009 cost savings target to $1.9bn from $1.8bn.
The company said mobile device revenue fell 46% to $1.7bn, home and networks mobility revenue declined 15% to $2bn, and enterprise mobility solutions revenue declined 13% to $1.77bn. It shipped 13.6 million handsets and 3.3 million digital entertainment devices.
For the nine-month period, Motorola has reported a net loss $193m compared to a net loss of $587m a year ago. Revenue was down 29% at $16.32bn.
Greg Brown, co-CEO at Motorola and CEO at Broadband Mobility Solutions, 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. As the economic environment improves, we believe our businesses are well positioned for continued success."
Looking ahead to the fourth quarter, the company expects EPS of $0.07 to $0.09.
