Alcatel-Lucent reports Q2 net loss of €40 mn

PARIS: Alcatel-Lucent announced the financial result for the quarter ended September 30, 2008, which once again posted a net loss, though it improved the position compared to last year.

The net loss for the third quarter, according to a press release, stood at €40 million, whereas the company reported a net loss at Euro 345 million last year.

During the quarter, revenues declined 6.6 per cent year-over-year and decreased 0.9 per cent Euro 4.065 billion.

After announcing the result Alcatel-Lucent CEO Ben Verwaayen said, “I am delighted to have joined Alcatel-Lucent, a company which has the talent, technologies and customer base to grow profitably in its market.”

Though the company is in a good shape from a cash standpoint, he agreed that the profitability remains unsatisfactory. “The gross margin came in at the lower end of our expectations in the third quarter, reflecting an adverse shift in both our product and geographic mixes,” he added.