Vendor results 1 - 28/1/06

Convergys reports earnings of $23.4m, up 16%, but revenues fell 1% to $ 669.6m.

Adtran posts 4Q05 earnings of 41 cents a share, above consensus of 39 cents, and revenues of $141m, up 34%, but below expectations of $144m.

Lucent reports $1.5bn in 4Q05 product sales and 0.55bn in services sales. Product sales are made of Mobility Access and Applications Solutions for $ 0.95bn; Multimedia Network Solutions for $0.4bn and Converged Core Solutions for $0.15bn. US sales accounted for 66% of the total.

Agere announced 4Q05 revenues of $403m (-2%) and a net loss of $19m, better than a year ago.

Infineon announced 4Q05 revenues were down 8% to €1.7bn, while loss increased to €183m from € 100m in the prior quarter. In the Communication segment, sales were down 19% to €334 while EBIT was down 11% to €21m.

STMicroelectronics posts 4Q05 earnings of $183m (almost flat) on sales of $2.4bn (almost flat). For 2005, earnings were $266m (down 55%).

NEC Electronics announced a $22m loss (vs $4.3m profit a year earlier) in 4Q05. For the nine months (April- December), NEC reports net profit of $322m (down 42%), operating profit down 60% to $276m and revenues of $29.2bn (down 1.2%). Its network solution segment, NEC registered an operating profit of $367m (up 91%).

Juniper reports lower than expected results, in spite of profit jumping 60% to $106m and revenues growing 5.4% to $575m. Products revenues and sales of recent acquisitions in the enterprise networking space appeared to show little growth. Juniper share fell 10% to $19.4.