Motorola, Apple's AIM Alliance (Apple, IBM, Motorola) partner and semiconductor supplier, posted a net loss of $1.4 billion for the third quarter of 2001.
It's sales for the quarter of $7.4 billion, were 22 per cent lower than the $9.5 billion recorded in the same quarter last year, when the company posted a $531 million net profit.
The loss this quarter would have been $153 million if pro forma adjustments were not included, the company said. These relate to charges incurred by a $1.3 billion defaulted loan to Turkish mobile network operator Telsim Mobil Telekomunikasyon Hizmetleri, investment write-downs, and cost-reduction activities such as job cuts.
For the first three quarters of 2001, the company made a net loss of $2.7 billion, compared to a net profit of $1.18 billion for the same period last year. Sales totalled $22.68 billion in the first nine months of the year, 17.5 per cent lower than the $27.5 billion for the first nine months of fiscal 2000, according to the company.