Motorola Posts Third Straight Profit

The wireless handset and equipment maker reported a net profit of $169 million for the first quarter 2003.

Wireless handset and equipment maker Motorola Inc. on Tuesday posted a net profit for the third straight quarter.

The Schaumburg, Ill., company reported a net profit of $169 million, or seven cents per share, for the first quarter 2003, compared with a loss of $449 million, or 20 cents per share, in the same quarter last year.

Sales were $6.0 billion, down from $6.2 billion in the same quarter a year ago.

"Motorola improved its pre-tax profit, excluding special items, by $309 million compared with the year-ago quarter, despite a slight decline in sales," said Mike Zafirovski, president and chief operating officer of Motorola, in a statement. "This is continuing evidence that the operational actions we have taken across Motorola are continuing to show positive results despite a very difficult economic climate for technology companies including Motorola. We believe we are well positioned to continue to improve profitability as growth returns, over time, to the total markets we serve."

Latest Wireless News: