Oct 29th, 2009 - InformationWeek
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A penny a share in profits doesn't exactly qualify as a turnaround, but in addition to two new well-received smartphones, Motorola finally delivered some good news Thursday as it reported its third quarter financial results. The company also moved to fix a messy controversy involving its CFO position by appointing Edward Fitzpatrick permanently to the post.
Revenues at the company's main two units dropped to $5.4 billion from $7.48 in the year-earlier quarter, but Motorola delivered a $12 million profit. The net loss in the previous year was $397 million.
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