Motorola, C-COR Report Earnings4/21/2005 3:34 AM Eastern
Motorola Inc.'s Connect Home division, now home to its cable-equipment group, reported a 45% increase in first-quarter revenue to $662 million, paced by shipments of 1.5 million digital set-tops and 2.2 million modems.
But operating earnings dropped to $19 million from $25 million in the year-earlier period due to "cost curves with the ‘DCT-6412,’" according to Motorola chairman and CEO Ed Zander.
C-COR Inc. reported net sales for its third quarter of $48.2 million, compared with $58.4 million for the same period last year, which resulted in a net loss of $17.3 million, compared with net income of $5 million in the year-earlier period.
The vendor’s results did include $1.7 million of amortization related to intangible assets and a $4 million charge for in-process research and development related to its purchase of nCUBE Corp.
C-COR said it expects net sales in its fourth quarter ending June 24 of $65 million-$72 million.