Alcatel-Lucent Reports Disappointing Q407 Results

February 2008 | Company Finance Alert

French-US telecoms equipment manufacturer, Alcatel-Lucent, has reported a net loss for Q407, of EUR2.58bn (US$3.73bn). The struggling company has also reported a loss for 2007 as a whole, as it failed to recover in the traditionally strong fourth quarter of the year. Since France's Alcatel bought Lucent Technologies in December 2006 the company has failed to hold up to its promise because sales of CDMA equipment, the area in which Lucent was market leader, have fallen. The Q407 results will be a disappointment for the company, which announced it would be cutting the jobs of up to 20% of the workforce after stating at the time of the merger that the number of job losses would be around 9,000.

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