Alcatel-Lucent finally showed some improvement in financial metrics during the fourth quarter, posting a loss of $73 million, or 3 cents-per-share, that was much lower than the 36 cents-per-share loss in the fourth quarter of 2006. Sales for the quarter of $7.6 billion were also 18% higher than Q4 2006.
However, these results failed to meet analyst expectations, extending the firm's string of disappointing quarters. CEO Pat Russo said the company will suspend payment of its 2007 dividend as its recovery continues. The company also said its total loss for 2007 hit about $5.12 billion. -Dan
For more:
- see this report at TheStreet.com
Related articles:
- Alcatel-Lucent last fall announced 4000 job cuts and saw two execs leave