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Technology Stocks : Ericsson overlook? -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (3513)	7/23/1999 3:35:00 AM
From: elmatador	Read Replies (1) \| Respond to of 5390

ERICSSON 6 MOS: PFT DROPS TO SEK 4.258 BLN, BELOW FORECASTS (Nyhetsbyr†n Direkt) - STOCKHOLM. Ericsson's first-half pretax profit came in at 4.258 billion kronor, down from 7.571 billion kronor a year earlier. Profit came in below the SIX Market Estimates consensus forecast of 5.010 billion kronor in the period. However, analysts' predictions spanned a wide range from 4.241 billion kronor to 5.477 billion kronor at the high end. The outcome included a capital gain of 900 million kronor from the sale of Intracom. Restructuring costs amounting to 600 million kronor were also factored in. Operating profit for the six-month period was 5.162 billion kronor (8.123). Net income was 3.193 billion kronor (5.186) and earnings per share was 1.74 kronor (2.66). Cash flow was a negative 18.654 billion kronor. Net sales amounted to 92.383 billion kronor up from 82.250 a year ago. Ericsson reiterated that profit for 1999 is seen lower than 1998 and that growth is forecasted at 10% this year. The group expects pretax profit to exceed 1998 levels next year. ERICSSON 6 MOS: SALES OPERATORS +22%, CONSUMER PROD -8% (Nyhetsbyr†n Direkt) - STOCKHOLM. Sales for Ericsson's business segment Operators increased 22% to 64.314 billion kronor during the first six months of the year. Meanwhile sales of mobile systems increased over 40%. Sales for the segment Consumer Products dropped 8% to 20.064 billion kronor while the figure for Enterprise Solutions rose 10% to 8.278 billion kronor.