Quarterly losses continue to haunt mega-vendor Alcatel-Lucent, as the company reported it lost $282 million in the first quarter. It is the fifth straight quarterly loss for the company, and trends in the dollar-euro exchange rate have not been helping matters (the company actually reports its results in euros, though we link to stories that show both when possible.) However, Alca-Lu officials insist progress is being made with the ongoing merger integration, and they maintain they see a positive industry economic climate for the company beyond some short-term economic uncertainty this year. The uncertainty for this year is leading them to lower the overall revenue outlook for the year.
When the company was in the process of reviewing and improving its merger integration plan last fall, there were rumors that Alcatel-Lucent CEO Patricia Russo's job could be in danger. The company's board of directors discounted those rumors and issued a statement of support for Russo. Now, there are rumors that out-going BT CEO Ben Verwaayen, who also is a former Lucent executive, has been approached about taking over the top job at Alca-Lu. Could Russo's days be numbered?
For more:
- read this earnings report at MarketWatch
- check out the chatter at Light Reading Europe