Motorola Inc. (MOT) Beats the Street
Motorola, Inc. (NYSE: MOT - News) today reported sales of $8.8 billion for the third quarter of 2007. The GAAP earnings from continuing operations for the third quarter of 2007 were $0.02 per share, which includes net charges of $0.04 per share related to charges associated with previously announced workforce reductions and a write-down of intangible assets.
"We are pleased with the improvement in the financial performance of mobile devices and we look forward to building upon the progress we have made," said Ed Zander, chairman and chief executive officer. "We have strengthened our leadership position in broadband video, WiMAX, next generation government and public safety and the enterprise mobility markets. With our focus on these key opportunities and the initiatives we are taking in mobile devices we will further improve our performance and create long-term shareholder value."
"During the third quarter, we maintained our focus on increasing cash flow, enhancing profitability and driving growth," said Tom Meredith, chief financial officer. "We are beginning to see improvements in our cash conversion cycle and operating cash flow which will lead to increased financial flexibility."
"We are pleased with the improvement in the financial performance of mobile devices and we look forward to building upon the progress we have made," said Ed Zander, chairman and chief executive officer. "We have strengthened our leadership position in broadband video, WiMAX, next generation government and public safety and the enterprise mobility markets. With our focus on these key opportunities and the initiatives we are taking in mobile devices we will further improve our performance and create long-term shareholder value."
"During the third quarter, we maintained our focus on increasing cash flow, enhancing profitability and driving growth," said Tom Meredith, chief financial officer. "We are beginning to see improvements in our cash conversion cycle and operating cash flow which will lead to increased financial flexibility."
Labels: MOT, Motorola Inc.
posted by Stock Administrator @ 9:14 AM
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