US technology giant Motorola said its latest financial results, announced Tuesday, show that it is returning to profitability in its chip business.
Overall, Motorola showed turnover of $7.2 billion, with net profit of $171 million for its first quarter ended 31 March 1999. That represents a five per cent increase in turnover from the same period last year. Net margin on its products was 2.4 per cent.
According to chief operating officer Robert Gowney, Motorola sees "continuing improvements in the semiconductor business, which returned to profitability."
The following are the 1999 first-quarter results of major operations compared with the first quarter of 1998.
In its mobile business, sales rose by eight per cent. Its network system sales rose by five per cent, quarter on quarter, with digital infrastructure sales accounting for 95 per cent of its terrestrial systems turnover.
In its chip business, sales were 11 per cent higher, with this division turning in an operating profit of $47 million compared to a loss of $58 million in the same period last year.
European orders fell, while orders increased in the Americas, Asia and Japan. The turn around was led by wireless communications.
To comment on this story, email [email protected]
Cotton seedling freezes to death as Chang'e-4 shuts down for the Moon's 14-day lunar night
Fortnite easily out-earns PUBG, Assassin's Creed Odyssey and Red Dead Redemption 2 in 2018
Meteor showers as a service will be visible for about 100 kilometres in all directions
Saturn's rings only formed in the past 100 million years, suggests analysis of Cassini space probe data
New findings contradict conventional belief that Saturn's rings were formed along with the planet about 4.5 billion years ago