Alcatel’s Board of Directors reviewed third quarter 2003 results. Third quarter sales reached 3,039 million versus 3,149 million in second quarter 2003. Year over year, sales decreased by 13% (6% at constant exchange rate). Income from operations amounted to 160 million, while net loss was registered at 284 million or diluted Euro (0.23) per share (USD (0.27) per ADS).
We are currently completing our restructuring programs with a view of optimising our operating efficiency around the One Company concept, which can achieve further economies of scale at the current level of business. In addition, actions are being prepared to eliminate losses next year in the above mentioned areas of handsets and optics. We will take necessary decisions in this regard before the end of this year. Our aim in preparing next year’s operating plan is now to target a positive net income in 2004 (pre-goodwill),” commented Serge Tchuruk, chairman and CEO.