Motorola has posted a 45 per cent drop in fourth quarter earnings, which were slightly below analysts? expectations.
The decline was attributed to a $150 million restructuring charge incurred after the company made staff lay-offs, mostly in its semiconductor business, last year.
Earnings were $238 million, or 39 cents a share, compared with $432 million, or 72 cents a share last year. Sales were up five per cent at $7.7 billion. Analysts expected sales of roughly $7 billion.
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