Alcatel-Lucent reports profits slump, ramps up job cuts to 12,500
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Newly merged telecommunications equipment maker  Alcatel-Lucent has reported a slump in underlying profits last year and ramped up planned job cuts to 12,500 or 15.6 percent of the workforce.
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Alcatel-Lucent SA fell nearly 9 percent Thursday after the telecommunications equipment maker slashed its full-year revenue growth forecast and said it expects third-quarter operating profit to be "around break-even."
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China Telecom, the country's largest fixed-line provider, sees half-year profits fall as users opt for mobile phones.
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Alcatel-Lucent will shed 12,500 jobs or 16 percent of staff, more than expected, as a result of its complex transatlantic merger and it sees tough times ahead with another dip in sales in the first quarter.
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Sprint Nextel Corp  reported  deeper than expected subscriber losses on Friday and said it  would cut about 4,000 jobs, raising fears of a slowdown in the  U.S. wireless industry, and its stock dropped nearly 25  percent.
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LONDON : British mobile telephone giant Vodafone reported a two percent fall in half-year underlying profits as the group added 7.4 million new customers.
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By Victoria Shannon  A cloud of uncertainty among the world's phone companies left Alcatel-Lucent with a heavy net loss Friday in its first quarterly report as the world's largest telecommunications equipment maker, and the company moved to eliminate thousands more jobs.
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Freshly merged Alcatel-Lucent  is stepping up job cuts to 12,500 after lurching into a fourth quarter loss and forecast a first-quarter sales dip as tough trading and uncertainties from the tie-up take their toll.
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Alcatel-Lucent cut its revenue forecast for the year on Thursday, underscoring the challenges the newly merged company faces in a highly competitive communications equipment industry.
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(InfoWorld) - Alcatel-Lucent's revenue fell for the fourth quarter and the company plunged into loss. The performance was disappointing, but theÂ long-term prospects of the mergerÂ of Alcatel and Lucent Technologies remain positive, the company said. Fourth-quarter revenue dropped 16 percent year-on-year on a comparable basis, to â¬4.42 billion ($5.83 billion as of Dec. 31, the last day of the period reported) from â¬5.25 billion, while revenue for the full year fell to â¬18.25 billion from â¬18.57 billion. Although the merger was onlyÂ completed at the end of November, the company provided pro-forma figures as if the merger had taken place on Jan. 1, and restated earlier figures on a comparable basis. On that basis, the company made a net loss of â¬618 million in the fourth quarter, compared to a net profit of â¬381 million a year earlier. For the full year, net profit fell to â¬522 million, down from â¬1.67 billion on a comparable basis the previous year. The disappointing performance was due to uncertainty among customers and staff about the outcome of the merger, and to a highly competitive market in North America during the fourth quarter, the company said. As it proceeds with the integration of Alcatel and Lucent, the company expects to realize cost savings of â¬600 million this year, and a total of â¬1.7 billion in cost savings within three years of the merger. The savings will come from optimization of its supply chain, and the elimination of duplicate resources and products, and around 12,500 jobs. Post-merger, the company makes around three-quarters of its revenue from carrier products. Revenue of â¬1.47 billion came from fixed-line telecommunications equipment in the fourth quarter, â¬1.24 billion from wireless equipment, and â¬510 million from converged products. Enterprise networking equipment accounted for â¬410 million, and services for â¬740 million. Demand was particularly strong for enterprise IP telephony equipment in Europe, the company said.
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Lucent Technologies Inc. LU.N on  Wednesday said quarterly earnings fell by half as increased  sales of wireless network products and services failed to  offset a sharp decline in demand for network gear used by  traditional phone companies.
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Shares in the telecommunications equipment maker fell today to their lowest level after the company slashed its forecast for full-year revenue growth.
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Alcatel-Lucent stepped up job cuts to 12,500 after lurching into a fourth quarter loss and forecasting a first-quarter sales dip as tough trading and uncertainties from the merger take their toll.
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Telecommunications equipment maker Alcatel-Lucent  could cut more than 20 percent of its world-wide staff, French weekly L'Expansion reported on Tuesday, citing industry sources.
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Freshly merged Alcatel-Lucent  is  stepping up job cuts to 12,500 after lurching into a fourth  quarter loss and forecast a first-quarter sales dip as tough  trading and uncertainties from the tie-up take their toll.
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com. AT&amp;T Wireless announced a drop in sales and profits, as it moved closer to its planned acquisition by Cingular Wireless. The firm earned $117 million on revenues of $4.
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Alcatel-Lucent reported higher sales but a net loss for the fourth quarter due to a big writedown in its CDMA (code division multiple access) and IP (Internet protocol) multimedia services businesses.The company said revenue rose 18 percent to &#8364;5.2 billion on the back of strong performance at several of its major business units. But despite the stronger sales the company saw its net profit plunge into the red to the tune of &#8364;2.6 billion. This was largely due to the &#8364;2.5 billion writedown.Its wireline and wireless carrier business was strong and revenues were &#8364;3.7 billion in the quarter against &#8364;3.2 billion during the same period a year earlier. The company benefited from strong growth in carrier-type optical networking, and the GSM (Global System for Mobile Communications) and WCDMA (Wideband CDMA) sectors. Broadband access revenue fell on the back of a decline in the number of DSL lines delivered.Revenues were up 27 percent in the services business to &#8364;1 billion after the company won large network operations contracts and worked on IPTV and IP network integration projects. Its enterprise business segment saw revenues of &#8364;435 million, up about 4 percent, thanks to strong momentum in Europe and Asia.The report came with bad news for investors. The company suspended its dividend payment for 2007 &quot;in the light of these results and or a more uncertain market outlook,&quot; it said.&quot;We just thought very plainly that it was good financial discipline looking at both our net income in &#39;07 and the very tough macroeconomic environment,&quot; said Hubert de Pesquidoux, chief financial officer, on a conference call.CEO Patricia Russo warned that the company doesn&#39;t have a positive short-term outlook, particularly with a looming recession in the U.S. given Alcatel-Lucent&#39;s dependance on business there.&quot;There is a level of uncertainty ... that leaves a lot unknown,&quot; Russo said.Despite interest in IP networking and 3G broadband services, growth over the next year is likely to be flat or just slightly up, Russo said. Taking into account currency differences, the market will likely be down, she said.Some customers are also pursuing network-sharing arrangements, which could affect how much those companies spend on their own infrastructure, she said.Russo defended the&#160;2006 merger of Alcatel and Lucent&#160;and said the company is still trying to reduce costs. So far, about 6,700 employees have been let go in&#160;a restructuring plan&#160;that will shed a total of 12,500 employees, she said.