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News
Issue #2003 - 21 (July 2003)
(Updated July 17, 2003)

MARKET OUTLOOK & TRENDS

Financial News From Wireless Companies

1. Motorola Turns Black - Reports Second-Quarter 2003 Financial Results

  • Second-quarter sales of $6.2 billion, down 10 percent vs. the prior-year quarter
  • Second-quarter GAAP earnings of $.05 per share vs. a loss per share of ($1.02) in the prior-year quarter
  • Second-quarter earnings, excluding special items, of $.01 per share vs. earnings of $.02 per share in the prior-year quarter
  • Second-quarter positive operating cash flow of approximately $300 million
  • Ratio of net debt to net debt plus equity improved to 12.4 percent from 18.2 percent in the prior-year quarter
  • Third-quarter 2003 guidance
  • Sales: $6.3 to $6.5 billion, flat to down 4 percent vs. the prior-year quarter
  • GAAP earnings per share: break-even to $.02 per share vs. $.05 per share in the prior-year quarter
  • Earnings per share, excluding special items: $.02 to $.04 per share vs. $.06 per share in the prior-year quarter

2. Intel Scores Double of Last Year's Profits
Intel Corporation today announced second-quarter revenue of $6.8 billion, up 1 percent sequentially and up 8 percent year-over-year.

Second-quarter net income was $896 million, down 2 percent sequentially and up 101 percent year-over-year. Earnings per share were $0.14, flat sequentially and up 100 percent from $0.07 in the second quarter of 2002.

"Overall, the quarter came in slightly better than we expected led by good demand in our computing-related business, which posted solid year-over-year results," said Craig R. Barrett, Intel chief executive officer. "We continued to see strength in emerging markets, and our Asia-Pacific region set an all-time revenue record.

3. Sony-Ericsson
Tokyo and Stockholm, July 15 -- Sony and Ericsson today announced the financial summary for the second quarter, ended June 30, 2003 of Sony Ericsson Mobile Communications AB, the 50:50 joint venture of Sony and Ericsson. The company reported improved operating results and a strong increase in sales and shipments for its two core business areas; GSM and Japanese standards.

Units shipped in the quarter reached 6.7 million, which is 34% higher year-on-year and 23% higher compared to the first quarter 2003. Net sales for the quarter were Euro 1.125 million, representing year-on-year and sequential increases of 18% and 40%, respectively.

4. Ericsson -Ericsson Sees No Market Improvement
Ericsson Chairman Michael Treschow stated that the weak mobile network market remains unchanged. Analysts expect Ericsson to suffer a pretax loss with the reporting of its second-quarter results on July 18

5. Proxim to report Q2 loss, officers resign
WLAN equipment maker Proxim will report a loss for its second quarter. The company said it expects to report revenue of $34 million to $35 million, with a net loss of 40 cents to 42 cents per share. Excluding charges, Proxim expects to report a loss of between 3 cents and 4 cents per share. Proxim's losses highlight the increasing competition in the WLAN equipment secto

Source: The 80211.Com Report

MobileInfo Comments and Advisory: Mixed bag of profit and loss news at wireless infrastructure companies. 

Note: This news release may contain forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of Securities Exchange act of 1934 in USA. Similar provisions exist in other countries. There is no assurance that the stipulated plans of vendors will be implemented. MobileInfo does not warrant the authenticity of the information. Readers should take appropriate caution in developing plans utilizing these products, services and technology architectures.  All trademarks used in this summary are the property of their respective owners.


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