TECHNOLOGY - Oct. 8, 1996
Times Staff and Wire Reports
Motorola Posts Poor 3rd-Quarter Results: The Schaumburg-Ill.-based company said it will reduce jobs and manufacturing capacity to cut costs as some of its businesses remain weak. The telecommunications giant said its performance was hurt by a downturn in the semiconductor industry; competitive pressures; falling prices for its cellular phones, pagers and other products; and weaker sales on related items. Profit fell by more than half to $206 million, or 34 cents a share, in the period, from $496 million, or 81 cents a share, in the third quarter of 1995. Sales fell 5% to $6.5 billion from $6.9 billion in the year-ago period. Net margin on sales fell to 3.2% from 7.2%.
