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Technology Stocks : Ericsson overlook?
ERIC 9.870+1.3%3:59 PM EST
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To: Jim Oravetz who wrote (5279)10/19/2006 12:45:27 PM
From: Jim Oravetz  Read Replies (2) of 5390
 
Ericsson's Net Profit Rises 17% On Growth at Mobile-Phone Venture

By MAGNUS HANSSON
October 19, 2006 2:15 a.m.

STOCKHOLM -- Telefon AB LM Ericsson Thursday posted a 17% rise in net profit during the third quarter as contributions from 50%-owned mobile-phone maker Sony Ericsson boosted results. It said it sees moderate growth in its main mobile infrastructure markets for 2007.

Ericsson, which provides telecommunications-infrastructure equipment and related services, said net profit in the quarter rose to 6.23 billion Swedish kronor ($844.1 million) from 5.31 billion kronor a year earlier. Revenue rose 12% to 40.8 billion kronor from 36.2 billion kronor thanks in part to the inclusion of the recently acquired Marconi.

Ericsson's closely watched operating margin fell slightly to 21.5% from 21.6% despite the two billion kronor in operating profit contribution from Sony Ericsson, a joint venture of Sony Corp. and Ericsson; because of lower margins at Marconi; and some large services contracts signed with Hong Kong conglomerate Hutchison Whampoa Ltd in 2005.

Ericsson said it expects the market for mobile-telecommunications infrastructure using the Global System for Mobile communications, or GSM, and Wideband Code Division Multiple Access, or WCDMA, standards to grow moderately in 2007.

The company projects its addressable market for professional services in the telecom sector to show good growth in 2007.
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