Motorola has revealed revenue for Q4 2008 is down 26 percent from last year.
The company, which faces tough competition from the likes of Apple's iPhone, said revenue for the quarter stool at $7.14bn, with the biggest decline in its mobile phone division, where revenue fell 51 percent to $2.35bn. Motorola also revealed it had suffered a net loss for the quarter of $3.6bn, or $1.57 per share, much of which was attributed to tax charges and goodwill write-downs.
Of the $1.57 per share loss for the quarter, deferred taxes accounted for $0.91, goodwill impairment $0.71 and investment impairments 0.09.
Motorola's mobile phone division saw revenue fall by 51 percent compared to last year
Charges relating to business re-organisation accounted for a loss of $0.05 per share. Motorola says it expects these and other re-organisation measures will help it save around $1.5bn this year.
Looking ahead, Motorola said that through the first quarter it expected losses to continue at between $0.10 and $0.12 per share, excluding the cost of re-organisation, but did not comment on the period after that. Analysts polled by Thomson Reuters expected a per share loss $0.06 for the first quarter.
The company has suspended the payment of dividends until further notice.
Motorola also said it is looking for a new CFO, after the previous post holder, Paul J. Liska, resigned. The company has appointed its corporate controller Edward J. Fitzpatrick as interim CFO.