Alcatel Optronics Q2 sales down 83% on a year ago
25 July 2002 -- Alcatel Optronics' Q2/2002 sales were EUR25.4m (down 27.6% on Q1 and 83% on a year ago).
25 July 2002 -- Paris-based Alcatel Optronics' Q2/2002 sales were EUR25.4m (down 27.6% on Q1 and 83% on a year ago). The loss was EUR186.5m (compared with net income of EUR11.8m a year ago). This included non-recurring charges of EUR144m: the EUR60m already announced for restructuring plus write-offs on inventory (EUR9m), goodwill (EUR63m) and deferred tax assets (EUR12m). Net loss was EUR42.5m.
"Additional turmoil at carriers' level is now very likely to push out the acceptance and deployment of new-generation systems and components", said CEO Jean-Christophe Girou. "While we're still committing to technological value and customer service, we felt it mandatory to take cost-cutting efforts to the next level, and further rightsize our structure."
"Our worldwide Industrial Redeployment Plan will yield a 40% reduction in quarterly fixed costs at completion, with 25-30% achieved before year-end.
Alcatel Optonics expects Q3 sales to be down 20-30% on Q2.