Mobile phone maker Motorola Inc swung into the black in the third quarter of this year with a profit of $12 million and is optimistic about its future performance with the improvement in economic environment.
The company had reported a net loss of $397 million in the same period last year, Motorola said in a statement.
Net sales of the company, however, dropped 27 per cent to $5.45 billion in the quarter ended September this year.
"We delivered on our commitment to improve the financial performance of Mobile Devices and to commercially launch two smart phones in time for the fourth quarter holiday season. The introductions of our new products powered by Android are important milestones as we begin to address mobilisation of the internet and the growing demand for modern smart phones," Motorola co-CEO Sanjay Jha said.
"Next year, we will continue to expand our smart phone portfolio and deliver improved financial results," Jha added.
In its outlook for the fourth quarter, the company expects to witness earnings from continuing operations of $0.07 to $0.09 per share, a significant rise from $0.01 per share in Q3.
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Meanwhile, Motorola's mobile devices segment sales were $1.7 billion, down 46 per cent against year-ago quarter.
The company's total cash at the end of the third quarter was $7.2 billion, an increase of $700 million compared to the end of the second quarter.