Vladimír Urbánek (Kurzy.cz)
World markets  |  January 31, 2013 10:13:32

Ericsson Q4 results beat estimates, shares rise strongly by more than 10%


World leader in the manufacture of components for the wireless telecommunications company Ericsson 4Q reported revenue growth of 5% to 66,9 mld.SEK = about 10.5 mld.USD market compared to an estimated 65.8 mld.SEK. Sales grew the most in the last year primarily due to growth in demand for equipment for strengthening the capacities and capabilities of data networks that operators try to adapt because of the growing popularity of smartphones and tablets.
Economy in the 4Q ended greatest loss in the last decade due to one-off cost items. Net loss reached a level of 6.46 mld.SEK after the company wrote off about 8 mld.SEK value alliance project with STMicroelectronics. The company stated that the option under consideration is the completion of the entire project. STM operating loss in Q4 decreased to -169 mill.USD 12 percent drop in sales. STM also said that this year will need an additional 500 millionUSD to continue restructuring.

Indicator of gross-margin in Q4 grew above market expectations and amounted to 31.1% compared to an estimated 30.7%. In 2011, the indicator fell to 30.2%, which was the lowest since 1989.

The management proposes to increase this year's dividend to 2.75 SEK per share, compared with 2.5 SEK in 2012.

Shares in response to the results of a growth of 12%, the biggest intraday increase since April 2011. Shares last year fell by 7.5%.
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