Alcatel-Lucent is prepping for a drop in full-year sales because at current exchange rates the weak U.S. dollar and potential cutbacks in customer spending look to lead to a downturn for the company. It expects sales to drop by 2 percent to 5 percent this year, but it hopes to still maintain or grow its market share. Alcatel-Lucent said it lost $282 million in its fifth straight quarterly loss. Revenues declined slightly to $6.02 billion. One analyst noted that everything in the company's report was negative except for its gross margins.
"While the long-term prospects for the industry are positive, the current macroeconomic environment remains uncertain, leading the company to continue to be prudent in its market assumptions," the company wrote in a statement.
For more on the quarter:
- check out this Alcatel-Lucent quarterly press release
- read this AP article
Related:
Alcatel-Lucent warns of 4Q slump