The world’s leading telecom company, Ericsson, said Thursday its sales were down 6% to 46.4 billion Swedish crowns (US$6.74B) in the Q-3 Y 2009. Operating income excluding joint ventures and restructuring charges amounted to 5.5 billion Swedish crowns (US$799M), down 3% from a year earlier, Ericsson said in its report. “Sequential sales decreased 11%, negatively impacted by currency exchange rate effects, seasonality and a reduced scope of the renewed managed services agreement in Italy. The lower year-over-year sales in Networks and Multimedia were partly offset by stronger sales in Professional Services,” said the report. Sales of network equipment declined due to lower demand in the current tougher market environment. Despite lower volumes, Network margins remain stable. The strong development in Professional Services continued,” said Carl-Henric Svanberg, president and CEO of Ericsson.
-Paul A. Ebeling, Jnr. www.livetradingnews.com
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