Alcatel's Q1 as Expected

Alcatel says 1Q02 results, which will be officially announced next week, are in line with projections

April 15, 2002

1 Min Read

PARIS -- In preparation for the Annual Shareholders Meeting which will be held later this week, Alcatel (Paris: CGEP.PA and NYSE: ALA) today announced that first quarter 2002 results are in line with Group projections in terms of sales and income from operations. Sales appear to have declined sequentially by approximately 32% while income from operations should be slightly better than its fourth quarter 2001 level of Euro (368) million. In addition, working capital continued to improve and moved well below Euro 6 billion. Net operating cash flow after capital expenditures was positive at around Euro 300 million and allowed the Group to reduce its net debt by a corresponding amount. Including non recurring items, Alcatel expects to post a net loss of approximately Euro 850 million, a sequential improvement of approximately Euro 600 million. This includes exceptional provisions net of tax in relation to submarine customer accounts and an exceptional charge relating to equity affiliates. It does not include any capital gains from asset disposals which should be recorded later this year. Full details of first quarter 2002 results will be released on April 25, 2002 at 8:00 am CET and will be followed by a senior management live webcast presentation that same day at 1:00 pm CET. Alcatel SA

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