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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Sprint Nextel  reported deeper-than-expected subscriber losses on Friday and said it would cut about 4,000 jobs, sending its shares down 19 percent to their lowest level in more than five years.
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Newly-merged telecoms firm Alcatel-Lucent is to cut 12,500 jobs in three years as profits are halved.
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Sprint Nextel  reported  deeper-than-expected subscriber losses on Friday and said it  would cut about 4,000 jobs, sending its shares down 19 percent  to their lowest level in more than five years.
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Shares in telecommunications equipment maker Alcatel-Lucent SA fell Thursday to their lowest level after the company slashed its forecast for full-year revenue growth in its third profit warning since the start of the year
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French-US telecom equipment maker Alcatel-Lucent issued its second profit-warning of the year Thursday, sparking a sharp fall in the group&#39;s share price despite management assurances the merger of the two groups would prove fruitful.
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Alcatel-Lucent  gave a weak  outlook for 2008 and scrapped its dividend after posting a net  loss of 3.5 billion euros ($5.12 billion) for its first year as  a merged entity.
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The maker of software for mainframe computers said third-quarter profit fell 12 percent because of restructuring costs.
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Motorola sees its latest profits slump 84%, hit by a sharp fall in sales of its mobile phone handsets.
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Alcatel-Lucent finished its first full year as a merged company with a net loss of 3.52 billion euros and sales of 17.79 billion euros, a 2.5 percent drop.
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Costly woes continue Alcatel-Lucent has admitted its outlook is dire after it disclosed it would be writing down $4.3bn of assets.â¦
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Telecommunication equipment titan Alcatel-Lucent sees global economic woes causing it uncertainty in 2008 after the newly merged company survived a choppy 2007, reporting a fourth-quarter loss Friday and scrapping its dividend for last year.
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Alcatel-Lucent, the Franco-American telecommunications equipment maker, posted a loss Friday of about $3.8 billion for the fourth quarter, said it would scrap its 2007 dividend and predicted a rocky 2008.
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The Loews Corporation said yesterday that its third-quarter profit fell 12.5 percent as investment losses and a legal settlement at its commercial insurance unit offset better results in tobacco, drilling and oil pipelines.
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French telecoms giant Alcatel-Lucent unveils disappointing sales forecasts, prompting a stock plunge.
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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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InfoWorld - 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.