Ericsson Q3 Loss Widens On Higher Charges, Weak Sales - Quick Facts

(RTTNews) - Sweden's Ericsson (ERIC) reported Friday that its third-quarter net loss was 4.3 billion Swedish kronor, wider than loss of 0.2 billion kronor a year ago.

Loss per share was 1.34 kronor, compared to loss of 0.07 krona a year ago.

As a result of the ongoing cost reductions, restructuring charges of 2.8 billion kronor were taken in the quarter, compared to 1.3 billion kronor last year. The latest charges included a write-down of 1.6 billion kronor related to the decision to close and divest the ICT center in Canada.

Adjusted loss per share was 0.55 krona, compared to profit of 0.34 krona last year.

Adjusted operating income was breakeven, compared to profit of 1.6 billion kronor last year.

Reported net sales decreased 6% to 47.8 billion kronor from 51.1 billion kronor last year. Sales adjusted for comparable units and currency declined 3%.

Networks sales declined 4%. Sales adjusted for comparable units, currency and the rescoped managed services contract in North America, increased slightly.