Nokia reports first quarter 1998 results: Higher Sales and Profits in All Businesses
Business Wire - April 24, 1998 05:51
www1.newsalert.com
HELSINKI, Finland--(BUSINESS WIRE)--April 24, 1998--Nokia today reports its first quarter results showing higher sales and profits in all businesses. Net sales in the first quarter 1998 totaled FIM 14,870 million (FIM 11,331 million in 1997), an increase of 31% compared to the first quarter 1997. Strong growth continued both at Nokia Telecommunications (42%) and at Nokia Mobile Phones (29%). Net sales in Other Operations grew by 14%.
Operating profit increased by 58% compared to the first quarter 1997 and was FIM 2,315 million (FIM 1,462 million in 1997). All business groups reported higher profits than in the comparable period a year ago.
Commenting on the results, Nokia President and CEO Jorma Ollila stated: "We have every reason to be satisfied with the excellent achievements during the first quarter. We believe that with our broad technological capabilities, we are fully prepared to exploit the emerging market opportunities in both mobile and fixed communications. We have taken a number of steps to strengthen our position in various technologies and to further build the Nokia brand. Together, these form the cornerstones of our strategy for future success."
More at link above...
-------
Congrats all Nokia longs! Looks great. |
