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General Instrument Corp. reported first-quarter profits declined by 43 percent, to $17.7 million, or 13 cents a share, from $31.2 million, or 25 cents a share, in the year-earlier period. Revenues for the Chicago-based maker of telecommunciations products were up 4 percent, to $641.2 million from $615.8 million. First-quarter earnings were diminished by the cost of splitting the company into three separate parts.
