Motorola today reported sales of $6 billion its fiscal first quarter, down 20 percent from the $7.5 billion the company reported a year earlier. Excluding special items, the company posted a net loss of $174 million, or eight cents per share, compared with a net loss of $211 million, or 10 cents per share, in the year-ago quarter.
Including a $388 million pre-tax charge, or $275 million after-tax, the company posted a net loss of $449 million, or 20 cents per share, compared with a net loss of $533 million, or 24 cents per share, for the first quarter of 2001.
With sales of $2.3 billion, the personal communications segment was up one percent from the same quarter last year. Sales in the Global Telecom Solutions Segment were $1.1 billion, down 36 percent compared to a year ago. Also down 36 percent was the Broadband Communications Segment, reporting sales of $525 million. The Integrated Electronic Systems Segment reported sales of $509 million, down 20 percent compared to a year ago.
Motorola’s Semiconductor business reported sales of $1.1 billion, down 26 percent compared to the year-ago quarter. Excluding special items, the segment had an operating loss of $226 million versus an operating loss of $95 million a year ago.
“We are making solid progress in repositioning Motorola to return to profitability in the second half of this year as our end markets recover, said Edward Breen, president and chief operating officer, Motorola. “We have demonstrated the ability to lower our break-even sales level, which is now reduced by more than 20 percent from its peak in 2000. Our focus on balance sheet management continues to yield solid results. During the past quarter, we generated operating cash flow of approximately $150 million on top of the $2.0 billion generated for the full year 2001.”