Earnings : NETWORKERS Message Board

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Technology Stocks : Earnings : NETWORKERS

CSCO 72.91

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Oct 30 3:59 PM EDT

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To: 2MAR$ who started this subject	4/22/2002 9:48:34 AM
From: 2MAR$	of 5

ERICY ( $2.60) Posts $289.1 Million Quarterly Loss, May Cut 17,000 More Jobs STOCKHOLM -- Telefon AB L.M. Ericsson (ERICY) Monday said it swung to a first- quarter net loss and warned it wouldn't return to profitability until sometime in 2003. The Swedish company, the world's largest manufacturer of equipment used in mobile -telephone networks, said it plans a rights offering of 30 billion Swedish kronor ($2.92 billion or 3.27 billion euros) this year. It said it expects to cut up to 17,000 more jobs by the end of 2003, reducing its work force to around 65,000. About 7,000 of the 17,000 jobs losses will likely be cut in 2002....

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