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Motorola denies trouble
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April 6, 2001: 4:23 p.m. ET
Company denies liquidity problems as stock plunges ahead of earnings report
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NEW YORK (CNNfn) - Near the end of a trading day in which Motorola saw its stock drop nearly 28 percent, the company denied it will soon face a serious liquidity problem.
Motorola (MOT: down $3.45 to $11.50, Research, Estimates) said Friday it "strongly denied" a published report its amount of outstanding commercial papers, $6.4 billion as of Dec. 31, 2000, is cause for alarm.
The Shaumburg, Ill.-based company said at the end of the first quarter it had cash and cash equivalents of $4.4 billion and $4.1 billion in outstanding commercial paper debt.
"Motorola today is financially sound," said Bob Growney, Motorola president and COO.
The company said it expects accounts receivable to decline during 2001, inventory levels to decrease during the year and also expects a "very significant" increase in proceeds from the sale of investments and businesses in 2001.
Motorola is scheduled to report earnings on April 10. 
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