Motorola Wed. reduced its outlook for 4th quarter and 2003, blami...
Motorola Wed. reduced its outlook for 4th quarter and 2003, blaming lowered revenue and earnings on slowing industry demand in wireless infrastructure, broadband and semiconductor businesses. Company said it now expected 4th- quarter sales to be $7.1 billion, down…
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from its earlier expectation of $7.5 billion. Motorola cut its 4th quarter earnings prediction to 10 cents per share from 14 cents, excluding special items. Including special items, it expected earnings of 4 cents per share. For 2003, company said it expected sales of $27.5 billion, down from predicted $29 billion. Motorola said it expected to achieve 2003 earnings of 40 cents per share at that sales level, down from 45 cents per share it had seen as achievable.