Alcatel-Lucent maintains guidance despite Q2 loss
Alcatel-Lucent has maintained its full-year earnings expectations despite recording a wider-than-expected loss in 2Q.
The company reported a net loss of €184 million, versus a profit of €14 million the year before.
While analysts had already predicted a loss, they had it pegged at just €146.2 million, according to the averages from a Bloomberg poll.
The company reported revenue of €3.81 billion, a 2.4% fall on 2Q09, but a sequential increase of 17.4%.
Gross profit at €1.38 billion was around 36% of revenues.
Despite the losses, CEO Ben Verwaayen stuck by full-year forecasts for 2010, stating that a growing order book would boost earnings in 2H10.
“As sales trends continue to improve and we continue to see the benefits of our actions on costs, the leverage effect at the operating profit level will be significant.”
The firm expects to generate an adjusted operating margin of between 1% and 5%, and tips the overall equipment market to grow by up to 5%.