Ericsson Gross Margin Disappoints
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Swedish telecoms equipment maker Ericsson reported a lower-than-expected fourth-quarter gross profit margin on Thursday as the rollout of more mobile networks added to costs, sending its shares down despite strong orders.
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Telecom equipment group Ericsson's  (ERICb.ST) chief financial officer has stepped down in the wake  of a shock profit warning last week which caused a massive  selloff in the company's shares.
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Sony Ericsson, the world&#39;s fourth  biggest mobile phone maker, posted higher second-quarter sales  on Wednesday but its profit and its average phone sale prices  were below analyst estimates.
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Ericsson, the world's biggest mobile network maker, reported softer-than-expected second-quarter earnings on Friday but said the company continued to outperform the market.
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Swedish telecommunication equipment maker Ericsson reported a gain in second quarter net earnings Friday but shares fell by more than four percent as its numbers came in short of market expectations.
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Ericsson AB, the biggest maker of mobile-phone networks, reported a fourth straight quarterly profit, helped by cost cuts and equipment demand.
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Ericsson, the world's largest  supplier of equipment for mobile phone networks, reported  fourth-quarter earnings below expectations on Friday and  reduced its 2007 market growth forecast.
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Telecom equipment maker Ericsson  (ERICb.ST) reported lower-than-expected profit and announced  sweeping job cuts on Friday as the group hunkered down for what  it expects will be a flat market this year.
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LM Ericsson, the world's largest supplier of equipment for wireless phone networks, posted a third-quarter profit on Friday that was in line with analysts' expectations but said it expects only slight growth in mobile networks in the coming months.
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Ericsson, the world's biggest  producer of mobile phone networks, said market growth would  slow next year, sending its share price down sharply despite  reporting a big jump in third-quarter profits on Friday.
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Mobile phone maker Sony Ericsson is  set to report a drop in fourth-quarter earnings on Wednesday as  its focus on lower-priced phones puts pressure on margins,  analysts say.
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Mobile phone infrastructure firm Ericsson sees worse than expected quarterly results and lowers its forecasts for 2007.
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Apple announced first quarter financial results, with revenue of $7.1 billion and a net profit of $1.0 billion, or $1.14 per diluted share. These results compare to revenue of $5.7 billion and a net profit of $565 million, or $.65 per diluted share, in the year-ago quarter. Gross margin was 31.2%, up from 27.2% a year ago. International sales accounted for 42% of revenue. .
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Sony Ericsson, the world's fourth-biggest mobile phone maker, posted higher second-quarter sales on Wednesday but its profit and its average phone sale prices were below analysts' estimates.
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Swedish telecommunication equipment maker Ericsson on Friday reported a gain in second quarter net earnings but its sales performance fell short of market expectations.
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The telecom's results can't quite connect with Wall Street's expectations.
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(InfoWorld) - Concerns about a spending slowdown continue to make IT investors nervous. The tech-heavy Nasdaq Composite Index closed Thursday at 2601.06, down from the 2700 level two months ago. The faltering U.S. housing sector, widespread mortgage payment failures, and related worries about the credit market have depressed share prices since the middle of the third quarter. IT companies, although not hit as hard as businesses in other sectors, have not been immune to the turmoil. A tightening of credit is often expected to dampen business and consumer spending. SoÂ Alcatel-Lucent's Thursday warning about the quarterÂ and the rest of the year struck a nerve, several weeks in advance of quarterly results. The company said it expects to break even on an operating basis in the quarter, and cut its 2007 revenue forecast. It said revenue for the year would be flat or slightly up, at constant exchange rates. Previously, it said that revenue would be up about 5 percent for the year. It was the third time this year the company cut its projections. Its share price dropped $0.88 to close at $9.16 Thursday. Alcatel-Lucent's announcement hinted at what many market observers have been fearing: slowing purchases by North American customers. "Alcatel-Lucent is now seeing a change in capital spending with those (North American) customers in 2007, compared to what it had anticipated," the company said. The company said it still expects ongoing cost savings in the wake of the merger of Alcatel and Lucent, but that did not quiet concerns about the overall market. "Merging may have made sense, but it does not change the marketplace. Demand is demand and that does not change because of mergers," said telecom analyst Jeff Kagan in an e-mail report. A slowdown in demand would make competition in the tough telecom market even more fierce. Earlier this week Alcatel-Lucent rival LM Ericsson said it was gaining market share in Europe and Asia. Ericsson shares rose $0.36 Thursday to close at $36.59. Ericsson's claims notwithstanding, U.S. and European vendors are getting hit with increasing competition from Chinese vendors such as Huawei Technologies and ZTE, which are steadily expanding their product portfolios. Not all tech-sector news this week was grim, however. The notebook market continues to experience explosive growth, according to a report released earlier this week by market research company DisplaySearch. The nine biggest notebook companies saw double-digit growth during the second quarter, while the market, measured by units shipped, grew by more than 24 percent, DisplaySearch said. Although those figures were generated before the third-quarter turmoil, the firm raised its estimate from 97.5 million notebooks shipping in 2007 to 103 million. The true impact of economic turmoil on IT will not be clear until the end of the year. For now, IT investors will try to read the tea leaves, in the form of quarterly results that will start to trickle in next over the next few weeks. Â