Motorola has spilled some very unappetizing beans with its first quarter results. The company missed its projected sales figure of $5.62 billion, posting $5.4 billion, $1.8 billion of which were in its handsets division. The cellphone space is where the company seems to be hurting the most -- sales were down 45 percent there -- though some projections had it faring worse than that. Overall, Moto's looking at a $291 million loss, or $0.13 a share, which, even in this economy, can't be the greatest of news.

On the bright side, during the earnings briefing, CEO Sanjay Jha confirmed that Motorola will indeed introduce "differentiated Android-based devices" in time for the holiday season this year. Hooray for that, anyway!

Read - Motorola CEO Confirms Android Devices for Q4
Read - Earnings: Motorola Posts $291 Million Loss As Cellphone Sales Slump 45 Percent