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Motorola Repeats Quarterly Guidance

It reportedly sees earnings between 8 cents and 12 cents a share in the fourth quarter.
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Motorola

(MOT)

reportedly affirmed it will meet earnings and revenue targets for the fourth quarter.

Confirming that the company expects to earn between 8 cents and 12 cents a share on revenue of $7.5 billion to $7.8 billion, President and COO Mike Zafirovski said: "Based on two months of results, we are comfortable that this is the appropriate guidance for Motorola for the fourth quarter," according to

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Reuters

.

This is the same guidance the company offered in October. Analysts polled by Thomson First Call had expected the company to earn 13 cents a share on revenue of $7.7 billion. For full-year 2003, analysts expect the company to earn 21 cents a share on revenue of $26.7 billion, vs. earnings of 10 cents a share on revenue of $26.2 billion in 2002.

The stock is unchanged in premarket Instinet trading at $14.05, but is up 53% for the year. Motorola reached a 52-week high of $14.40 in early November at about the same time that Chairman and CEO Christopher Galvin said he was quitting.