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Alcatel-Lucent narrows Q1 loss

first_imgHome Alcatel-Lucent narrows Q1 loss Steve Costello Related Nokia details Digital Health review; further job cuts Tags Author Alcatel-LucentChina HuaxinFinancial Steve works across all of Mobile World Live’s channels and played a lead role in the launch and ongoing success of our apps and devices services. He has been a journalist…More Read more Previous ArticleConvergence key to TD-LTE growthNext ArticleTelefonica suffers revenue and profit fall in Q1 Loss-making network infrastructure player Alcatel-Lucent reduced the amount of red ink used in the first quarter of 2014, as the impact of its broad restructure began to take effect.Michel Combes (pictured), CEO of Alcatel-Lucent, said: “We began 2014 as we ended 2013 – totally focused on driving implementation of The Shift Plan. Having put the group in the right financial direction last year we are encouraged by the continued progress shown in the first quarter of 2014.”According to Reuters, Jean Raby, CFO, said the company is still on-track to sell €1 billion of assets, as previously stated, but did not provide further details.The company reported a loss of €73 million for the period, compared with a prior-year loss of €353 million, on revenue of €2.96 billion, down from €3.23 billion. It also provided revenue figures treating its Enterprise unit as a discontinued operation (it has inked a deal to sell this unit): on this basis, the figure would have been essentially flat.It said that the reduced loss was driven by higher operating income, lower restructuring charges, and a “significant reduction in net financial losses”.Revenue from the company’s Wireless Access unit was €999 million, down from €1.01 billion in Q4 2014, although it claimed a 2.3 per cent increase at constant exchange rates and comparable perimeter.It said that in the first quarter, LTE growth continued to be strong, notably in the US. This increase was partially offset by continued declines in 2G and 3G technologies, which represented less than 25 per cent of wireless access revenue in Q1.The company noted wins including LTE overlay deals with Claro Uruguay, Etisalat and APT (Taiwan), and small cell announcements including Verizon Wireless and TIM in Brazil.Looking forward, the company is expecting China to drive wireless revenue in Q2, although this could impact margin, Reuters said.Alcatel-Lucent also noted that its Managed Services revenue halved, reflecting moves to terminate or restructure loss-making contracts.On a group level, cash flow continued to be a concern. It reported a free cash flow defecit of €398 million for the quarter, although this was reduced from a €533 million outflow in the prior-year.The deal to sell the Enterprise business to China Huaxin is due to close in Q3, subject to certain approvals. Alcatel-Lucent will retain a 15 per cent stake in the unit. AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 09 MAY 2014 Nokia downplays impact of Alcatel-Lucent probe Nokia slashes Alcatel-Lucent jobslast_img read more