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Ericsson, on a Financial Rise

The company has presented their financial results

By Elena Balan, Communications News Editor

20th of July 2007, 10:12 GMT

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Ericsson has just revealed its financial results for the second quarter of this year. The company has managed to reach high profits and continues its continuous growth tendency.

Ericsson has managed to increase their net sales with up to 8 percent and reach an operating income and net income of 12 percent over the past six months. Earnings

per share have been set at 11 percent, which has made stock holders see profit from their shares.

Ericsson has succeeded in surpassing the number of three billion mobile subscriptions. The company has managed to reach record levels in GSM shipments and register traffic increases in the HSPA service that they provide. Moreover, the IP broadband agreement with AT&T has proved to be a breakthrough in the North American market.

"Sales showed an encouraging year-over-year increase this quarter, primarily driven by Asia Pacific. Europe, Middle East and Africa were softer while we see improving trends in the Americas. Margins were stable with improved cash generation", said Carl-Henric Svanberg, President and CEO of Ericsson.

"Our services business continues to expand faster than the market and several managed services contracts will start to be revenue generating in coming quarters. We are in a start-up phase in multimedia, where sales and margins will vary. Tandberg Television is now part of our group and will add significant strength. On the handset side, Sony Ericsson had another quarter of strong performance and market share increase", Carl-Henric Svanberg further added.

The company has managed to close a large number of contracts on important markets. They will provide their services in even more countries from now on, which will also translate into high profit rates. At this time, the company is investing in the development actions in the countries that it has contracts with. When this period will be over, Ericsson's profit rates will grow even more and show the real worth of this company.

TAGS:

Ericsson | financial results | profit

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