Alcatel posts higher Q3 income, revenue
- 12 November, 1999 12:56
Alcatel SA, the French telecommunications and network equipment maker, yesterday reported increases in third quarter income and revenue in line with expectations.
Alcatel reported significant gains in net income for the quarter ending September 30 on net revenue of 5.3 billion euros ($A8.6 billion), up 9.4 per cent from the 4.8 billion euros it reported for the corresponding quarter a year ago.
Net income for the quarter reached 83 million euros, compared with a loss of 9 million euros in the year-ago quarter, the company said. Operating income, meanwhile, surged almost 600 per cent to 296 million euros from 50 million euros in the third quarter of 1998.
Earnings per share reached 0.21 euro, up from 0.08 euro the year before.
Alcatel's CEO, Serge Tchuruk, in a statement credited the rise in earnings to increased demand boosted by growth in Internet traffic as well as major contract wins to supply ADSL (asymmetric digital subscriber line) networks to telecommunications carriers.
The bulk of the company's sales, 57.4 per cent, occurred in Europe. North America came in second with 21.8 per cent, followed by Asia with 8.1 per cent.