Motorola Inc. said it received more orders for semiconductors than revenue this month, a sign the business may be reversing its decline this year.
The July book-to-bill ratio was greater than 1, said Fred Shlapak, president of Motorola's chip business, at the company's annual meeting in Rosemont, Ill. That means Motorola booked more than $1 in orders for every $1 in revenue. The ratio in June was 0.9, he said.
President Robert Growney didn't change Motorola's July 12 forecast that third-quarter sales will rise 5% from the second quarter, with a loss of "several cents per share" that's narrower than in the prior period. Fourth-quarter revenue will rise another 5%, and the company will be "slightly profitable." The targets exclude items such as acquisition costs and severance charges.
Growney declined to set financial targets for 2002.
Shares of Schaumburg, Ill.-based Motorola fell 34 cents to $18.69 on the NYSE.