Motorola's fourth-quarter loss hits $3.6 billion

From CNET News.com: Motorola on Tuesday reported a stunning net loss on tumbling revenue for the fourth quarter.

The net loss for the phone maker in the quarter, ended Dec. 31, was $3.6 billion, or $1.57 per share, compared with positive earnings of $100 million (4 cents per share) for the same period a year earlier.

All but one penny of the per-share loss stemmed from net charges related to the impairment of goodwill and an increase in deferred tax asset valuation reserves.

The loss had been widely expected after Motorola in January announced plans for layoffs and said revenue would come in below analysts' expectations, on weaker-than-expected handset sales.

Revenue for the fourth quarter was $7.1 billion, down 26 percent from $9.6 billion year over year.

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