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Alcatel-Lucent management resigns after 6th consecutive quarter of losses

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The Alcatel-Lucent group continues to record significant losses with each passing quarter. The financial results for the period between April and June this year were no exception, which led the company’s CEO, Patrícia Russo, and the chairman of the board, Serge Tchuruk, to announce his resignation.

In the second quarter, Alcatel-Lucent recorded losses of around 1.1 billion euros, almost double the losses recorded in the same period last year (586 million euros). Turnover also decreased over the period analyzed, in this case up to 4.1 billion euros, which represents a 5.2 percent drop.

In the midst of restructuring, the company closed its sixth consecutive quarter of net losses. Even though sales increased 6.1 percent from the first quarter, the balance for the three months remained negative.

For this fiscal year, Alcatel-Lucent «maintains its forecast» and expects to «lower revenues by two to five percent». For the third quarter, the manufacturer believes that the results «will follow the same line as those obtained between April and June, followed by strong growth in the fourth quarter».

It is also at the end of the year that Patrícia Russo will step down as CEO of the company. Until then, he will continue to lead the group until a successor appears. Serge Tchuruk will leave the chair of the Board of Directors on 1 October this year.

At the same time, the US court ruled that microsoft will have to pay $ 512 million to Alcatel-Lucent for alleged infringement of two patents registered by the French-American manufacturer.

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2008-04-30 – Alcatel-Lucent with losses for the fifth consecutive quarter

2008-02-08 – Alcatel-Lucent closes 2007 with losses of 3.5 billion euros