French telecommunication company Alcatel-Lucent (ALU), Friday, posted a wider loss for the third quarter, as revenues declined year-on-year.
Paris, France-based Alcatel-Lucent said its third quarter net loss attributable to the owners of the parent widened to EUR 182 million or EUR 0.08 per share from EUR 40 million or EUR 0.02 per share year-on-year. Loss per ADS was US$0.12, compared to loss per ADS of US$0.02 in the year-ago quarter.
Adjusted net loss was EUR 143 million or EUR 0.06 per share, compared with adjusted net income of EUR 41 million or EUR 0.02 per share in the same quarter last year. Adjusted loss per ADS was US$0.09, compared with adjusted earnings per ADS of US$0.03 last year.
Third-quarter revenue declined to EUR 3.69 billion from EUR 4.07 billion in the year-ago quarter. Revenues from reportable segments fell to EUR 3.64 billion from EUR 4.00 billion a year ago.
Third-quarter cost of sales decreased to EUR 2.46 billion from EUR 2.75 billion last year. Administrative and selling expenses for the third quarter declined to EUR 699 million from EUR 740 million in 2008.
Third-quarter research and development costs decreased to EUR 609 million from EUR 664 million a year ago. Goodwill, net declined to EUR 4.13 billion from EUR 6.61 billion in 2008. Intangible assets, net decreased to EUR 2.25 billion from EUR 4.03 billion a year ago.
For the nine-month period, net loss attributable to the owners of the parent narrowed to EUR 570 million or EUR 0.25 per share from EUR 1.32 billion or EUR 0.59 per share last year. Nine-month revenues declined to EUR 11.19 billion from EUR 12.03 billion in the year ago-quarter. Nine-month cost of sales decreased to EUR 7.53 billion from EUR 7.88 billion a year ago.
Alcatel-Lucent also reiterated its guidance for 2009. The company continues to expect the global telecommunications equipment and related services market to be down between 8% and 12% at constant currency in 2009.
The company still anticipates an adjusted operating income around break-even in 2009.
ALU is trading down 9.11% at $3.79 on the NYSE, lower 38 cents.
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