Alcatel Optronics' Q2/2002 sales were EUR25m, down 27.6% on Q1 and 83% on a year ago. Overall loss was EUR187m, compared with net income of EUR12m last year.
"Additional turmoil at the carrier level is now likely to push out the acceptance and deployment of new-generation systems and components", said CEO Jean-Christophe Girou. "We felt it mandatory to cut cost and further 'right-size' 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 Optronics expects Q3 sales to be down 20-30% on Q2.