Alcatel Optronics sees continuing fall in sales
Full year sales for 2001 increased by 8.8% to Euro 470.4 million compared with Euro 432.3 million in 2000. The company registered a net loss of Euro 144.3 million in 2001 compared with net income of Euro 37.5 million in 2000.
"In 2001, Alcatel Optronics resisted the turmoil of the optics crisis better than the industry average, and posted net growth over 2000," said CEO Jean-Christophe Giroux. "We also consolidated our product offering and our geographical presence, in line with our strategy to emerge as one of the few global players in this market. However, the December 2001 quarter showed a steep deceleration of business conditions, mainly pertaining to a depressed submarine environment."
"Looking ahead, it looks like the first two quarters will provide very shallow revenue and, consequently, significant operating losses," continued Giroux. "For the first quarter of 2002, we are anticipating a sequential drop in sales of around 50% and an operating loss of approximately Euro 50 million." The company anticipates that next generation design-ins will provide fresh traction, alongside the removal of the inventory glut at the system house level. "Our gameplan for 2002 will be to pursue our on-going restructuring efforts while preserving our capacity to move up the value chain and to leverage our industry positioning, progressively restoring our profitability as we go into 2003," said Giroux.
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Web site: http://www.alcatel.com
