SCHAUMBURG, Ill. – Cell phone maker Motorola Inc. (MOT) posted a second-quarter loss amid lower sales on Thursday, hurt by disappointing results in its largest segment, mobile devices.
The company, which recently warned of a weak quarter, posted a net loss of $28 million, or a penny per share, down from a profit of $1.38 billion, or 55 cents per share, in the same period a year ago.
Net loss from continuing operations totaled $38 million, or 2 cents per share for the most recent quarter and included charges of 4 cents per share from job cuts and insurance litigation.
Revenue fell 19 percent to $8.73 billion from $10.82 billion.
Analysts polled by Thomson Financial were expecting break-even per-share results on sales of $8.64 billion.
Sales at Motorola's mobile phone business fell 40 percent to $4.27 billion from $7.14 billion.
The company's other two segments saw an increase in revenue.
Motorola shipped 35.5 million handsets during the quarter.
"This was a challenging quarter for Motorola in which revenue fell short of our expectations due to a decline in mobile device unit shipments," said Ed Zander, chairman and chief executive, in a statement.