Motorola Warns of 2Q Shortfall
11.07.2007 21:28
Computers
- Source: Forbes
Cell phone maker Motorola Inc. on Wednesday warned of a second-quarter profit and sales shortfall, blaming poor results in its mobile devices business in Asia and Europe. The company also said it no longer expects mobile devices - its largest business - to be profitable in 2007. Motorola (nyse: MOT - news - people ) forecast a loss from continuing operations in the range of 2 cents to 4 cents per share for the second quarter, including charges between 3 cents and 4 cents per share from previously disclosed job cuts and other items. Motorola also cut its outlook for quarterly sales to a range of $8.6 billion to $8.7 billion, from a prior outlook of about $9.4 billion. Analysts polled by Thomson Financial predict earnings of 2 cents per share on sales of $9.26 billion. The company expects to ship about 35 million to 36 million handsets in the second quarter. Copyright 2007 Associated Press. All rights reserved. This material may not be published broadcast, rewritten, or redistributed
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