Motorola profit up on strong smart phone sales
Motorola Inc. posted a profit in the first quarter, with smartphone sales helping the flagship mobile devices business turn around a heavy loss from a year earlier.
The Schaumburg-based technology company reported a net profit of $69 million, or 3 cents per share, reversing a loss of $231 million, or 10 cents per share, in the first quarter of 2009. Overall sales for the company fell to $5 billion from $5.4 billion a year ago.
Motorola’s mobile devices division posted sales of $1.6 billion, a decline of 9 percent from the same quarter last year. But the unit’s operating loss came to $192 million, substantially narrower than a loss of $545 million in 2009. Co-Chief Executive Sanjay Jha told analysts on a conference call that he expects the business to become profitable in the fourth quarter of this year.
Source: Chicago breaking business
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