clarinews@clarinet.com (01/19/90)
SCHAUMBURG, Ill. (UPI) -- Motorola Inc. Thursday reported fourth-quarter net income of $132 million, or $1.01 a share, up nearly 6.5 percent compared with $124 million, or 95 cents a share, in the year-ago quarter. Sales for the quarter were $2.65 billion compared with $2.19 billion in the year-ago quarter. For the year, net income was a record $498 million, or $3.83 a share, compared with $445 million, or $3.43 a share, in 1988. Sales for 1989 also set a a record at $9.62 billion, compared with $8.25 billion in 1988. ``The cellular telephone market continues to expand rapidly,'' said Motorola Chairman George Fisher. He added that the near-term outlook for the semiconductor business is more modest, but that ``we see improvement later in 1990, and a return to more traditional rates of growth in future years.