Motorola Suspends Div, CFO Liska Out, Posts Big Q4 Loss

Motorola (MOT) this morning announced Q4 results that were about in line with Street expectations, while also suspending its dividend and booting its CFO. For the quarter, the company posted sales of $7.14 billion, about in line with the Street consensus of $7.15 billion. The company posted a loss for the quarter of $3.6 billion, or $1.57, including $1.56 a share in one-time charges. Ex-charges, that’s a loss of a penny a share, which compares with the Street consensus forecast of a break-even quarter. Revenues were down 26% from a year ago. Gross margin in the quarter was 29.7%, up from 26.3% a year ago. The company’s closely watched mobile devices unit sold 19.2 handsets in the quarter. The unit had sales of $2.35 billion, down 51%, and suffered an operating loss of $595 million. For the year, the handset unit lost $2.2 billion. The home and networks mobility segment had sales for the quarter of $2.6 billion, down 5%. The enterprise mobility solutions units had sales of $2.2 ... (link)