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Motorola Reports Lower Q3 Sales For Mobile Devices

10/25/2007 09:08:00 AM Eastern

Schaumburg, Ill. – While Motorola improved its financial performance over the second quarter of this year, it reported lower sales and net earnings for the third quarter vs. last year and lower results for its Mobile Devices operation.

For the quarter ended September 30, Motorola reported net sales of $8.8 billion, down from last year’s $10.6 billion but higher than the $8.73 billion during this year’s second quarter. The same trend held true for net earnings, which were $60 million for the quarter, down from $968 million from last year’s third quarter of $968 million. During the second quarter of this year Motorola lost $28 million.

In the mobile devices, segment sales were $4.5 billion, down 36 percent compared with the year-ago quarter. The segment incurred an operating loss of $138 million, compared with operating earnings of $843 million in the year-ago quarter. Motorola's share of the global handset market for the quarter is estimated to be 13 percent. During the quarter, mobile devices shipped 37.2 million handsets -- including more than 900,000 RAZR 2 devices.

Home and networks mobility had segment sales of $2.4 billion, up 6 percent compared with the year-ago quarter. Operating earnings were $165 million, compared with operating earnings of $231 million in the year-ago quarter.

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