Motorola Reports Q1 Sales of $6.0 Billion, down 2% vs. the Prior-Year Quarter

Motorola reported Q1 sales of $6.0 billion and net earnings of $169 million, or $.07 per share. This represents a decrease in sales of 2% from $6.2 billion in the year-ago quarter. Motorola reported a GAAP net loss in the year-ago quarter of $449 million, or ($.20) per share. The company said its financial performance continues to improve despite a very difficult economic climate for technology companies. Motorola has reduced its net debt to $1.6 billion, its lowest level since the end of 1999, achieving a net debt to net debt plus equity ratio of 12.3% by generating approximately $475 million in positive operating cash flow during Q1. For Q2, the company expect sales of between $6.4 and $6.6 billion and earnings per share in the range of $.01 to $.03 on a GAAP basis and $.03 to $.05 excluding special items.
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