Motorola posted its first quarterly loss since 2004 as dismal sales continued to vex the struggling mobile phone maker, an Associated Press report said.
The Associated Press report said worse still, the company said its misfortunes would continue through the second quarter.
Blaming disappointing sales of mobile phones, as well as expenses to cover a legal settlement, restructuring efforts and an acquisition, the telecommunications equipment maker said it lost $181 million in the first three months of 2007, the report said.
That compares with a profit of $686 million during the same period a year earlier, it added.
Those results met Wall Street's drastically lowered expectations, which followed a warning last month that sales at the world's No. 2 cell phone maker would fall more than $1 billion short of previous projections, the report said.
Overall, first-quarter sales slid 1.8%, to $9.43 billion, from $9.61 billion a year ago. Still, that came in ahead of the $9.29 billion expected by Wall Street analysts polled by Thomson Financial, the report said.Mobile device sales, the company's biggest segment, fell 15% to $5.4 billion, the report further said.