Alcatel Swings to Profit
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French telecommunications equipment maker Alcatel SA swung to a profit in the third quarter, helped by cost-cutting and a rebound in the mobile communications industry, the company said Thursday.
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LG Electronics said Thursday its fourth-quarter net profit was more than 12 times greater than earnings in the same period a year ago amid record mobile phone sales and a turnaround in its flat panel subsidiary.
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South Korea's LG Electronics Inc.  swung to a profit in the second quarter as a turnaround in its LCD venture and strong mobile phone sales outweighed heavy losses in its plasma display business.
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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.
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Western Wireless Corp., an operator of wireless services, on Monday said it swung a third-quarter profit but missed Wall Street expectations after taking hefty charges during the period.
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ADC Telecommunications Inc.  posted a sharp increase in quarterly profit on Wednesday, beating expectations, and gave a forecast that topped current estimates, sending shares 3 percent higher.
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Wireless technology and chip supplier Qualcomm Inc  on Wednesday posted a higher profit for its fiscal first quarter as revenue rose on strong demand for its mobile phone chips.
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The phone company reported an 89 percent rise in fourth-quarter profit, bolstered by a benefit related to income tax.
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Verizon Communications  said on  Monday its quarterly profit rose and its wireless customer  additions were ahead of analyst estimates.
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European stock markets have risen when a well-received statement from Alcatel-Lucent helped offset a weak showing on Wall Street overnight.
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Telecommunications-equipment maker recorded its first annual profit fueled by rapid growth in its wireless telephone division. -The Washington Post
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Qualcomm Inc  posted a higher quarterly profit on Wednesday due to demand for its mobile phone chips, and its shares rose 6.5 percent.
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AT&T, the nation's biggest long-distance carrier, said that its profit jumped a better-than-expected 84 percent in the fourth quarter as it cut costs.
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Motorola (MOT) said Tuesday that its quarterly profit rose on improving sales of a host of new handset models. The world&#39;s No.
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Alcatel has expanded its foothold in the  key North American market with the acquisition of a mobile  software provider and a conference technology business for $277  million.
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NEW YORK, September 17  - Alcatel (ALA.NYS) has expanded its operations and presence in the core North American telecommunication market with two separate acquisitions for about $277 million.
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Qualcomm Inc  posted a  higher quarterly profit on Wednesday due to demand for its  mobile phone chips, and its shares rose 6.5 percent.