Motorola back in black; posts USD 69 mn profit in Q1
Telecom major Motorola has swung into a profit of USD 69 million in the first quarter of 2010, paced by good performance of enterprise mobility solutions and networks businesses.
Motorola had incurred a loss of USD 231 million in the same period a year ago, the company said in a statement on Thursday.
Revenues of the company stood at USD 5.04 billion in the first quarter of 2010, lower than USD 5.37 billion in the comparable period.
"Our enterprise mobility solutions and networks businesses performed very well during the quarter, delivering strong operating earnings and excellent cash generation," Greg Brown, Motorola's co-chief executive and CEO of Motorola Solutions, said.
Enterprise mobility solutions segment sales climbed to USD 1.7 billion in the first quarter.
Sanjay Jha, Motorola's co-chief executive and CEO of Mobile Devices and Home, said the company continues to execute its business strategy and build momentum in smartphones.
"We are in a strong position to improve our share in the rapidly growing smartphone market, particularly in light of our competitive portfolio, strengthened brand and improved carrier relationships," Jha noted.