ESPOO (dpa-AFX) - French telecom equipment maker Alcatel-Lucent (ALU) reported that its net income, Group share, for the first half of 2016 was 1.321 billion euros or 0.37 euros per share, compared to a reported net loss of 145 million euros or 0.05 euros per share in the year-ago period.
The positive results in the first half of 2016 were primarily attributable to the activation of some deferred tax assets, for 2.4 billion euros, which was partially offset by impairment charges of 489 million euros related to the early termination of one of licensing agreements with Qualcomm and the reassessment of the valuation of our legacy brands.
Free cash flow of Euro (2,073) million in the first half of 2016 mainly reflects the implementation of the combined new Nokia's capital structure optimization program, in particular the reductions in the sale of receivables and the fees related to the accelerated repayment of our high yield bonds as Nokia now provides credit facilities to Alcatel-Lucent.
Group revenues were 6.096 billion euros in the first half of 2016, a 9% decrease compared to the year-ago period. On a constant currency basis, revenues would have decreased 8% year-over-year.
Copyright RTT News/dpa-AFX