Alcatel-Lucent profits on the way up at last

Troubled networking vendor Alcatel-Lucent posted its first ever sequential rise in net profits during its fourth quarter, banking €340m (£288m) in the last three months of the year, after booking some substantial pre-tax gains.

Troubled networking vendor Alcatel-Lucent posted its first ever sequential rise in net profits during its fourth quarter, banking €340m (£288m) in the last three months of the year, after booking some substantial pre-tax gains.

The figure was up from €25m in Q3, and the year-ago profit of €46m was also surpassed by a country mile, at long last giving weight to CEO Ben Verwaayen's persistent optimism.

Fourth quarter sales grew 22.6% year-on-year (15.1% at constant currency rates) and 19.3% sequentially to €4.86bn.

Full year sales were €15.99bn, up 5.5% year-on-year, while net losses of €334m showed clear improvement on 2009.

"I am energised by the progress we have made. We have overhailed our product porfolio, introduced our High Leverage Network and Application Enablement strategy, increased customer relevance and improved our operational excellence," said Verwaayen.

"As we enter 2011 I am more confident than ever in our ability to transform into a normal company," he added.

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