Motorola expects 4Q earnings below Street estimate

Thu Oct 30, 2008 7:43 AM EDT

technology, wall-street, outlook, motorola

Motorola Inc. said Thursday it expects to earn 2 cents to 4 cents per share in the fourth quarter, which would fall short of Wall Street estimates.

The outlook excludes any charges for the reorganization. Motorola is in the process of spinning off its cell phone division, and had said it would take place in the third quarter next year. On Thursday, it said the process would take more time.

Analysts polled by Thomson Reuters had expected the company to earn 7 cents per share in the fourth quarter, excluding items.

The maker of communications gear said it lost $397 million, or 18 cents per share, in the July-September period. That contrasts with a profit of $60 million, or 3 cents per share, a year ago. Sales fell 15 percent to $7.48 billion.

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