twice connect
careers

Motorola Mobility Shrinks Q1 Losses

4/29/2011 09:25:05 AM Eastern
Schaumburg, Ill. - Motorola Mobility shrank its net losses in its fiscal first quarter to $81 million on a GAAP basis from a year-ago $212 million loss on revenues that grew 22 percent to $3 billion.

 
In the company's mobile devices segment, which accounted for 70 percent of revenue, the company posted an operating loss of $89 million, down from a year-ago $192 million loss. Mobile revenues were up 30 percent to $2.1 billion.

Unit mobile-device sales rose 9.4 percent from the year-ago quarter to 9.3 million devices, consisting of cellphones and tablets.  Of that amount, 4.1 million units were smartphones, up 56 percent from the year-ago 2.3 million smartphones.

In the quarter, Motorola shipped 250,000 Xoom tablets, which became available Feb. 24 in a WiFi+3G version and on March 27 as a WiFi-only version.

Sales of home devices, largely settop boxes, grew 8 percent to $904 million, and GAAP operating earnings rose to $53 million compared to a year-ago $20 million.

The consolidated operating loss was $36 million, down from a year-ago $212 million.
Want to read more stories like this?
Get our Free Newsletter Here!

Curated By Logo