"On target," says Motorola chief

At last some good news...

At last some good news...

The chief operating officer of mobile phone and equipment maker Motorola was making bullish noises yesterday about his company's chances of hitting second-quarter revenue targets. Ed Breen said he expect the company to meet or slightly exceed its stated target of $6.4bn. Motorola has made a loss for five consecutive quarters. Its results for the first quarter - announced back in April - showed an operating loss of $174m compared to a loss of $211m in the same period last year. Sales at the company dropped by 20 per cent to $6bn - down from $7.5bn in the first quarter of 2001. At the same time as announcing its results, Motorola said it would cut another 850 jobs in its head office and warned it may cut more staff in order to return to the black this year.