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Motorola Posts Q3 Net Loss On Rising Sales

10/27/2011 05:02:44 PM Eastern

Schaumburg, Ill. -
Motorola Mobility continued to shrink its net losses in the third quarter on
rising sales.

The consolidated
net loss shrank to $32 million in the third quarter, from $56 million in the
second quarter and $81 million in the first quarter. The third-quarter loss,
however, was down negligibly from the year-ago net loss of $34 million.

In the mobile
devices segment, the company posted a net operating loss of $41 million, down
from a second-quarter operating loss of $85 million and a first-quarter loss of
$89 million.

The losses
included about $18 million in expenses attributable to the company's planned
acquisition by Google. Motorola still expects the acquisition to close by the
end of this year or early next.

Consolidated
sales, consisting of mobile devices and home set-top box devices, rose 11
percent to $3.3 billion, while mobile device sales rose 20 percent to $2.4
billion.

During the
quarter, mobile device shipments rose 27.5 percent to 11.6 million units
compared with the year-ago quarter. That includes 4.8 million smartphones, up 26
percent from a year-ago 3.8 million smartphones.

During the
quarter, the company also shipped about 100,000 Xoom tablets.