Nokia Siemens Networks (NSN) just can't seem to find a way to right its troubled financial ship as it reported that revenues declined again in Q1 2010.
During the quarter, NSN reported $3.62 billion in revenues, down nine percent from Q1 2009. NSN reported a $354 million operating loss, which was less than Q1 2009. Taking out a one-time $166 million restructuring charge, NSN was able to achieve a $20 million adjusted operating profit.
However gloomy Q1 was for NSN, Q2 is showing some promise. NSN expects it will report $4.1 to $4.5 billion in Q2 revenue. Part of this positive outlook could be related to company CEO Rajeev Suri's focus on increasing its market share.
Key growth areas for NSN continue to revolve around LTE and managed services. In addition to displacing Huawei at Telia Sonera for its LTE rollouts, NSN secured 14 managed services contracts.
For more:
- Reuters has this article
- Light Reading Europe has this analysis
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