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Alcatel-Lucent Slashes Losses in 2014

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Alcatel-Lucent slashed its net loss for 2014 by more than 90% to €118 million ($133.5 million) as a result of the vendor’s cost-cutting efforts.

The company, which had reported a net loss of €1.3 billion in 2013, also attributed the result to an impairment charge from the prior year.

Revenue fell 3% year-on-year to €13.18 billion, but would have stayed flat excluding the impact of declining managed services income. The decline in managed services revenue was down to the termination or restructuring of loss-making contracts.

By region, revenue from APAC declined 1% year-on-year due to a slowdown in China’s networking gear spending. Revenue from North America fell 11% and revenue from Western Europe – excluding managed services revenue – improved 1% over the same period.

The results for the year provide more evidence that Alcatel-Lucent’s multi-year Shift Plan is bearing fruit, helping to turn around the lossmaking vendor’s fortunes. Original post at Telecom Asia

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Wahengbam Rorrkychand

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