French phone firm set to announce large loss
PARIS - The Associated Press
Alcatel-Lucent says it expects to post an adjusted operating loss of 40 million euros ($49 million) for the second quarter when it announces its earnings next week.
The telecommunications equipment maker says in a statement Tuesday that its revenue for the April-to-June quarter should be above 3.5 billion euros - still below the ?3.9 billion posted in the same period last year.
The Paris-based company says the poor economy is weighing on its businesses. While it expects the rest of 2012 to pick up, it will miss its earnings targets for the year. It had previously said it would improve on the 3.9 percent adjusted operating margin achieved in 2011.
Alcatel-Lucent supplies telecommunication carriers such as AT&T, Verizon and France Telecom.