Reuters: Mergers News: Motorola posts Q1 loss, says smartphone shipments up

Reuters: Mergers News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Motorola posts Q1 loss, says smartphone shipments up May 1st 2012, 21:11 Tue May 1, 2012 5:11pm EDT * Q1 net revenue $3.08 bln * Q1 net loss of $86 mln * Smartphone shipments up year-year, feature phone shipments down SAN FRANCISCO, May 1 (Reuters) - Motorola Mobility Holdings Inc posted an $86 million loss in the first quarter, but said smartphone shipments increased by more than 20 percent year over year. The company said it continues to expect that its merger with Internet search company Google Inc will close in the first half of the year. Motorola said that net revenues in the three months ended March 31 grew slightly to $3.08 billion, versus $3.03 billion in the year-ago period. Motorola said it lost $86 million, or 28 cents a share in the first quarter, versus a net loss of $81 million, or 27 cents a share in the year-ago period. Excluding certain items Motorola said it would have lost 3 cents a share in the first quarter. Revenue in the company's Home segment, which makes television set top boxes, fell 2 percent year-on-year to $884 million. The company's Mobile Devices business posted a 3 percent revenue gain to $2.2 billion. Smartphone shipments totaled 5.1 million, vs 4.1 million in the year-ago period. Feature phone shipments of 3.7 million were down from 4.9 million in the first quarter of 2011. Google announced plans to acquire Motorola for $12.5 billion last year, in a bid to secure Motorola's valuable trove of patents and paving the way for Google to pair its Android mobile software with Motorola's handset business. Motorola said it continues to work closely with authorities in China for approval of the merger with Google. Shares of Motorola, which closed Tuesday's regular trading session at $38.82, were down slightly at $38.76 in after hours trading. Link this Share this Digg this Email Reprints

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