Alcatel-Lucent Reports Flattish Sales, Return to Losses
French-American communications equipment giant Alcatel-Lucent reported its Q1 2013 financial results Friday.
Characterizing the results as showing "continued progress with The Performance Program," the company announced that revenues increased 0.6% in Q1 2013 over Q1 2012 levels, rising to 3,226 million euros ($4.2 billion).
Net losses for the quarter came to 353 million euros ($460 million), of which approximately one-third, 122 million euros, came from restructuring charges. On a per-share basis, this worked out to 16 euro cents lost per share, vs. last year's 10 cent euro profit. The company continued to burn cash as well, with operating cash flow running negative to the tune of 144 million euros before deducting capital expenditures.
Commenting on the last figure, Alcatel CEO Michel Combes observed: "Free cash-flow remains a challenge."
Alcatel shares are trading down on the NYSE today, off 3.2% at $1.36 per share in response to the news.
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