Motorola Mobility Swings to Loss on Various Charges, as Revenue Rises
Motorola Mobility on Friday said that its sales for the past quarter totaled $3.3 billion, up 28 percent from a year ago, but swung to a loss when including various charges.
The cellphone maker, which was spun off earlier this year from the networking and equipment half of Motorola, said it had a loss of 19 cents per share, compared to earnings of 27 cents per share in the second quarter of last year.
On a non-standard basis, the company said it would have had earnings of 9 cents per share. On that basis, the company had a per-share loss of 30 cents in the year-ago quarter, including a large legal settlement provision.
The company had forecast in April that it would post anywhere from breakeven results to a profit of 12 cents per share, excluding charges.
In the quarter, Motorola said it shipped 11 million mobile devices, including 4.4 million smartphones and 440,000 tablets.
Looking forward, the company said to expect this quarter’s earnings, excluding charges, to be anywhere from breakeven to a profit of 10 cents per share. For the full year, the company expects per share earnings in the range of 48 cents to 60 cents.
“With a focus on profitable growth and delivering differentiated LTE smartphones and tablets, we expect to achieve profitability in Mobile Devices in the fourth quarter and for the full year 2011,” CEO Sanjay Jha said in a statement.