Financial performance (1) - 23/08/08

Unusual presentation for company results, but there were too many companies in the past month to report their financial performance. So I tried to sum up main indicators in a short sentence for each company.

ALU reported 2Q08 results in line with forecasts: revenues of €4.1bn (down 5%) due to fewer CDMA contracts, net loss of €1.1bn (or €220m adjusted). Management tandem P.Russo/ S.Tchuruck is stepping down; ALU maintains its guidance for 2008.

Sony Ericsson announced revenues of €2.8bn (-10%) and net income of €6m (-96%). SE shipped 24.4m phones in the quarter, with a lower ASP (-7%).

Ericsson said its sales were $8.1bn (+2%), but its earnings were down 70% to $320m due to weaker earnings in Sony Ericsson and to higher development (+24%) and restructuring costs. Ericsson confirmed its view of a flattish mobile infra market in 2008.

Motorola posted better than expected results and execution with revenues down 7.4% to $8.1bn, an operating income of $5mand a net income of $4m. The handset division reported revenues of $3.3bn (-22%) and an operating loss of $346m. Other divisions grew by 6.6% in revenues and 27% in operating income.

Nokia provided mixed results with revenues up 4% to €13.2bn (of which €9.1bn in handsets and €4.1bn in infra NSN), and net income falling 61% to €1.1bn. Nokia shipped 122m units in the quarter (+21%) and keep a 40%+ market share. It maintained 2008 outlook with a flat market in infra and a 10% growth in mobile devices.

Cisco announced first-ever over $10bn ($10.4bn) quarterly revenues (+11%)and an net income of $2bn (+4%).

Nortel provided mixed results with revenues almost flat ($2.6bn and +2%) hit by weaker sales in the CDMA market, but a loss of $113m (vs a loss of $37m).

Samsung posted revenues of $18bn (+24%) with an handset division reporting $5.4bn in sales and $781m in earnings. Samsung shipped 45.7m units in the quarter (+22%) with an increasing ASP (+1.3%). It targets 200m units shipped in 2008.

Sonus announced $88m in revenues (+16%) and earnings of $126k (vs a loss last year).

Juniper reported $879m in revenues, up 32%, with net income of $120m, up 40%.

LG said it sold 27.7m phones in the quarter, and expects to ship over 100m units in the year.