Motorola earnings rocket in first quarter
Motorola announced net earnings for first quarter 2004 of $609 million—25 cents per share—on sales of $8.6 billion. Earnings improved by 257% year over year, from $169 million, while sales improved by 42% from $6.0 billion.
Motorola’s Commercial, Government and Industrial Solutions segment posted operating earnings of $178 million, triple the $62 million reported for the year ago quarter. First quarter sales for CGIS totaled $1 billion, an 18% increase over first quarter 2003. The segment also announced a multi-year contract worth $151 million from the State of Victoria, Australia, for an emergency services digital radio network, as well as a contract from the South Africa Police to deploy a TETRA system in the Province of Gauteng.