Alcatel-Lucent Q1 loss drops by almost 80%

|By:, SA News Editor

Alcatel-Lucent's (ALU) Q1 net loss narrowed to €73M ($101M) from €353M a year earlier, helped by lower costs and an 11% increase in revenue at the telecom-equipment company's Internet-routing division.

Losses per share dropped to $0.03 from $0.16.

Revenue fell 3.3% to €2.96B, mainly because of the increase in the euro vs the dollar and a 50% fall to €99M at the firm's managed-services business. Internet-routing sales +11% to €549M, wireless-network fell slightly to €999M.

Alcatel-Lucent swung to an adjusted operating profit of €33M from a loss of €179M and beat expectations for break-even.

Free-cash flow loss €398M vs €544M, adjusted for discontinued operations.

Alcatel-Lucent remains on track to sell €1B in assets.

Shares are +3.4% in Paris. (PR)