(RTTNews.com) - Alcatel-Lucent (ALU) posted second quarter net loss, group share, of 254 million euros or 0.11 euros per share versus profit of 43 million euros or 0.02 euros per share a year ago.
Loss per ADS was $0.14 versus earnings per ADS of $0.03 in the same quarter last year.
Adjusted loss per ADS was $0.12 versus adjusted earnings per ADS of $0.05 a year ago. On average, nine analysts polled by Thomson Reuters expected the company to report earnings of breakeven per share. Analysts' estimates typically exclude special items.
Revenues were 3.55 billion euros, down 7.1% year-over-year on a reported basis. At constant currency exchange rates and perimeter, revenue decreased 13.2% year-over-year.
The company noted that Networks witnessed a double-digit decline this quarter compared to the year ago period. The high single digit growth rate in IP business was more than offset by the double digit declines in both Wireless, resulting from a higher comparison base and moderate or delayed spending from service providers, and Optics.
Further, the company launched The Performance Program to achieve an additional 750 million euros cost reduction, bringing total savings to 1.25 billion euros by the end of 2013. The Performance Program includes additional global headcount reduction of around 5,000 people.