Feeds

Motorola announces third consecutive loss

Chips are down

  • alert
  • submit to reddit

Internet Security Threat Report 2014

Motorola has reported its third quarterly loss in a row, although it provided no surprises to the City and share price has remained unchanged.

The telecoms and processor manufacturer announced a loss of $153 million (£105 million) for its third quarter from a profit of $643 million (£442 million) a year ago. Revenue was down 22 per cent to £5.1 billion.

Motorola did say however that its mobile handset business has popped back into the black and things looked better for the future. This was ruined however by a huge £244 million loss (compared with £139 million profit this time last year) for its semiconductor arm.

The broadband division's profit dropped $40 million to $120 million. And the telecoms solutions arm saw profit slump from $247 million to $33 million. There was also a $2 billion net charge for "investment impairments, cost-reduction activities and approximately $1.3 billion in additional reserves that relate to a defaulted $2 billion financing to Telsim, a cellular operator in Turkey".

Motorola president and COO Robert L. Growney said: "In total, Motorola made important progress in sequentially reducing its pro forma operating loss, although we won't be satisfied until we return to solid and growing profitability throughout our portfolio of businesses. We will continue to be focused on efforts to control operating expenses and to maintain the health of our balance sheet during this period of uncertainty."

Motorola won a $30 million deal to upgrade Horizon phone network in the US to 3G on Monday. ®

Related Link

The full results

Providing a secure and efficient Helpdesk

More from The Register

next story
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.