Motorola Inc. (MOT,Trade), the No. 2 maker of wireless telephones, on Monday reiterated the fourth-quarter financial guidance it provided last month.
The Chicago area-based wireless technology giant still expects to earn about 10 cents a share before one-time items on sales of about $7.1 billion, Chairman and Chief Executive Christopher Galvin said at a UBS Warburg telecommunications conference in New York.
He also said the quarter will include about $200 million of charges, as it previously announced, largely completing Motorola's restructuring.
Analysts were expecting the company to earn 10 cents a share before one-time items in the fourth quarter on sales of about $7.1 billion, according to Thomson First Call.
Motorola last month cut its outlook for the fourth quarter and 2003, blaming slowing demand in several businesses, including semiconductors and high-speed Internet and wireless equipment.
The company at the time said it expects fourth-quarter sales of $7.1 billion, down from its previous estimate of $7.5 billion. It trimmed its earnings estimate for the quarter to 10 cents a share from 14 cents, excluding one-time items.
Motorola also said last month that it expects 2003 sales of about $27.5 billion, down from its previous projection of about $29 billion. It also said 2003 earnings of 40 cents are achievable, down from a previous forecast of 45 cents.
Shares of Motorola closed down 42 cents, or 4.8 percent, at $8.38 on the New York Stock Exchange.
(in
www.clearstation.com)
Enviado: 11/11/2002 23:05