PARIS (AP) — Struggling French telecommunications equipment maker Alcatel-Lucent says it swung to a wider than expected loss in the first quarter as sales nearly stalled and restructuring costs continued to mount.
The Paris-based supplier to operators such as AT&T, Verizon and Orange says it lost eur353 million in the January-March period, compared to a eur259 million gain a year earlier. Sales were nearly flat at eur3.23 billion.
Analysts surveyed by financial data provider FactSet forecast a first quarter loss of eur265 million on sales of eur3.2 billion
In a statement Friday, new chief executive Michel Combes said he planned to unveil his ideas for turning Alcatel-Lucent around in early summer.