Alcatel-Lucent posts full-year net loss of €1.4bn

7 Feb 2013

Image via Alcatel-Lucent on Flickr

Alcatel-Lucent has reported a full-year net loss of €1.4bn and a decrease in sales of 5.7pc to €14.5bn last year, compared with 2011.

The network equipment maker, in reporting its fourth-quarter and full-year 2012 financial results today, confirmed it will not pay shareholders a dividend for last year.

The company’s global sales dropped 1.3pc to €4.1bn in the fourth quarter, but sales rose 13.7pc in its US market.

Fourth-quarter revenues amounted to €4.0m, up 13.8pc quarter-over-quarter, and lower by 1.3pc year-over-year. Full-year 2012 revenues totalled €14.4m, lower by 5.7pc year-over-year.

Operating cash flow for the fourth quarter reached €702m, and €693m for the year 2012.

“Our fourth quarter reflects the early progress of The Performance Program announced last July. We announced clear choices on where we would operate, how we would operate and where we would differentiate,” said Alcatel-Lucent’s outgoing CEO Ben Verwaayen.

“We have seen progress on all these choices, and close 2012 ahead on our cost-reduction plans. We have addressed half of the previously margin-diluting managed services contracts, and show continued and strong growth in IP and next-generation wireless. We can see a clear statement of customer confidence through growth in both our order book and backlog.”

Verwaayen added that throughout 2013, Alcatel-Lucent will remain focused on completing its The Performance Program.