Alcatel-Lucent Swoons on Cautious 2010 Outlook
The troubles continue for Alcatel-Lucent (ALU).
The telecom equipment company’s shares are down sharply this morning after it reported Q4 results and trimmed its 2010 outlook.
For Q4, the company posted an adjusted operating profit for the quarter of 271 million Euros, about in line with Street estimates, Marketwatch notes. But revenue of 3.9 billion euros fell 20 percent, as carrier spending sagged and the company lost market share. The company also turned more cautious on 2010, asserting that while the sector should recover, it is too early to have a firm view on potential margin expansion. ALU now sees adjusted operating margin for the year of one-five percent; old guidance was for five percent.
