Wednesday July 11, 5:39 pm Eastern Time
Motorola Posts Quarterly Operating Loss
CHICAGO (Reuters) - Wireless technology giant Motorola Inc. (NYSE:MOT - news) rang up its second consecutive operating loss on Wednesday, citing difficulties in the telecom and semiconductor industries.
The Chicago area-based company reported a second-quarter operating loss of $232 million, or 11 cents a share, excluding special items, compared with $551 million, or 25 cents a share, in the same period last year.
After Motorola warned in April that its second-quarter result would be a few cents worse than the first-quarter loss of 9 cents per share, analysts had expected it to post a 12-cent loss, with a range of a 10-cent loss to a 15-cent loss, according to Thomson Financial/First Call.
Sales fell 19 percent to $7.5 billion from $9.3 billion last year.