Motorola cuts sales and earnings forecasts
kitchenman : Motorola cuts sales and earnings forecasts
NEW YORK, June 9 (Reuters) - Motorola Inc. (MOT) , the world's No. 2 mobile phone company, on Monday cut its second-quarter sales and earnings estimates because phone sales in Asia were lower than expected due to the SARS outbreak.
Motorola, based in suburban Chicago, said it now expects net income of about 2 cents per share. Excluding certain items, it said it should about break even.
Sales should range from $6 billion to $6.2 billion.
Last month, Motorola affirmed earlier estimates for sales of $6.4 billion to $6.6 billion and earnings of 1 cent to 3 cents per share excluding certain items.