Citing ’sharp economic slowdown’ in U.S., Motorola said it didn’t...
Citing “sharp economic slowdown” in U.S., Motorola said it didn’t expect to meet its first-quarter sales guidance of $8.8 billion or earnings guidance of 12 cents per share. Company provided projections Jan. 11, but revised them Fri. after disclosing…
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reduction in its order pattern. If trend doesn’t reverse, Motorola said it expected quarterly operating loss. The company also said it planned additional cost reduction steps, although it didn’t provide details. Revised guidance means Motorola expects to fall short of $8.8 billion in sales reached in first quarter 2000 and to widely miss earnings for that period that hit 20 cents per share. In conference call, Motorola officials lowered projection for international handset sales in 2001 to 500 million from forecasts of up to 575 million.