Alcatel-Lucent (NYSE: ALU) continued its financial recovery in the first quarter of 2011 with a notable increase in revenues, helped mostly by a 40 percent year-on-year ramp in North American sales, and the near eradication of its net losses.

The vendor reported a 15.2 percent year-on-year increase in revenues to €3.74 billion (US$5.43 billion), while its net loss of €10 million ($14.5 million) was a vast improvement compared with the €515 million ($748 million) net loss of a year ago. (See AlcaLu Feels the Squeeze in Q1.)

Its adjusted net income (after one-time costs) -- the figure that financial analysts care most about -- was €32 million ($46.5 million), or €0.01 per share, compared with a loss of €473 million ($687 million), or €0.21, a year ago.

Although some analysts had raised their revenues estimates closer to the €4 billion ($5.8 billion) mark recently following positive indications from Ericsson AB (Nasdaq: ERIC)'s first-quarter performance, AlcaLu's results were roughly in line with average expectations. (See Mobile Data Fuels Ericsson's Q1 .)

Following a recent rally in the company's stock, AlcaLu's share price dipped by 4.2 percent to €4.10 in morning trading on the Paris exchange.

— Ray Le Maistre, International Managing Editor, Light Reading