Technology firm Motorola today reported a modest first quarter profit of $169 million (€156 million).
Today was the third consecutive positive quarter earnings report, with net earnings at 7 cents a share on sales of $6 billion at the end of March, down 2 per cent on the year previously. This compared with a net loss for the previous year of $449 million, or 20 cents a share.
Mr John Phillips, country manager for Ireland, told ireland.comMotorola was still recruiting slowly within the State. "Ireland is very well positioned for future development and pleased with the contribution our Irish operations have made", he said.
The company, which employs more than 650 people in the State, has three sites in the Republic - at Swords, Co Dublin, at Airport Business Park and its software development site at Mahon Co Cork where 550 people are employed.
Motorola benefited from $148 million in special items during the quarter, mostly from the sale of some of its Nextel Communications shares. Excluding those items, earnings were 1 cent per share, matching the consensus estimate of Wall Street analysts.
Operating earnings in the cell phone sector came to $114 million as sales increased 2 per cent to $2.4 billion.
Motorola also claimed it has increased its share of the world mobile handset market by 3 per cent to 19 per cent - although still well behind Nokia.
