Motorola Reports Q2 Results
Motorola Inc. (Schaumberg, IL) reported record sales of $9.3 billion in the second quarter of 2000. For ongoing operations, this is an increase of 22 percent from $7.6 billion a year earlier. Excluding special items, earnings from ongoing operations were a record $515.0 million, or $0.23 per share, up 91 percent from $269.0 million, or $0.13 per share in 1999. Including sales from businesses sold after the second quarter in 1999, sales increased 15 percent from $8.0 billion a year ago. Including the earnings from businesses sold after the second quarter in 1999, second-quarter earnings were up 66 percent from the year-ago figure of $311.0 million, or $0.15 per share. The 1999 figures are restated to reflect the merger with General Instrument Corp. (Horsham, PA) and the June 1, 2000 3-for-1 stock split.Semiconductor segment sales increased 27 percent to $2.0 billion and orders rose 31 percent to $2.2 billion. Operating profits rose to $166.0 million from $24.0 million in 1999.According to Robert L. Growney, president and COO, sales growth and profit improvement in the semiconductor products segment continued in the second quarter.