Travelusacc Discussion Threads

[maywillow] 18/4/2005 21:21

PARIS (AFX) - Alcatel chief executive Serge Tchuruk wants Mike Quigley, CEO
of Alcatel USA, as his new managing director and second in command, replacing
Philippe Germond who has already resigned, La Tribune reported.
Without naming its source, the paper said Tchuruk has proposed Quigley to
the group's appointments committee and that his candidacy will be discussed at a
board meeting tomorrow.
Alcatel is splitting the role of chairman and chief executive to create a
two-tier stucture and Germond is understood to have been unhappy at Tchuruk's
decision to remain as chairman and in effective control until 2008.
The paper said however that Quigley's lack of French may count against him
and that he does not have the unanimous support of the board.
Germond's resignation was also believed to have been triggered by Alcatel's
plans to build up its ties with Thales, thus gaining a large presence in the
defence sector to balance its substantial exposure to telecoms networks.
La Tribune said the board will tomorrow press Tchuruk to reveal his
intentions concerning Thales.
[e-mail]
mrg/cmr

[waldron] 18/4/2005 17:20

Alcatel's Quigley Good Option; Thales Weighs

Monday, April 18, 2005 4:53:22 AM ET
DJ MARKET TALK: Alcatel's Quigley Good Option; Thales Weighs



0837 GMT [Dow Jones] Were Alcatel (ALA) to name Mike Quigley as Serge Tchuruk's successor, "it would definitely be positive," says analyst. "The international investors really like him. He's clear and open," he says, adding that a potential deal with Thales (12132.FR) would offset Quigley nomination. "It's one of the reasons the stock has been so weak. It makes it less of a pure play and more of industrial conglomerate." Alcatel declines comment. Shares -3.4% to EUR8.65. (BJL)

[maywillow] 14/4/2005 13:55

PARIS (AFX) - A partnership between the two consortia vying for the Galileo
European satellite navigation contract has not been ruled out, according to
co-CEO of European Aeronautic Defence and Space Co (EADS), Philippe Camus.
Camus said on the LCI TV station: "I think that a discussion could happen...
I don't rule out the possibility of reaching an agreement."
He added: "It's for the Europen Union to talk to us."
The Galileo project has yet to decide between the two competing consortia,
grouping EADS and Thales SA (iNavSAT) and Alcatel SA and Finmeccanica SpA
(Eurely).
At the beginning of March, Finmeccanica CEO Pier Francesco Guarguaglini said
he believed the rival consortia could tie up to manage the Galileo programme.
Camus, who will leave his post after the May 11 EADS AGM, added that the
company does not need Thales for its future development, and that the
government-driven effort to merge the groups last year was "poorly enacted."
Should Thales instead decide to pursue a partnership with Alcatel, Camus
said that EADS would be unlikely to take any part in it apart from seeking
smaller scale partnerships.
Camus reiterated his view that a deal between EADS' satellites unit Astrium
and Alcatel Space is not seen as necessary, and could well attract close
scrutiny from the EU competition authorities.
[e-mail]
ea/jad/jlw

[maywillow] 13/4/2005 15:38

Alcatel May Make Cash Call In 05-06 - DrKW

Wednesday, April 13, 2005 9:23:38 AM ET
Dow Jones Newswire



1310 GMT [Dow Jones]--Alcatel's (ALA) "balance sheet, long one of our main concerns, appears ill prepared to absorb any material shocks. We would not be surprised if another cash call is made in 2005-06," says Dresdner Kleinwort Wasserstein. "Amid internal turmoil in wake of COO's sudden departure, further signs of market share losses in broadband access and static sales generation may only add to the company's woes." Shares +0.9% to EUR9.37. (BJL)

[maywillow] 13/4/2005 15:30

LONDON, April 13 (newratings.com) – Analysts at Dresdner Kleinwort Wasserstein reiterate their "sell" rating on Alcatel (CGE.ETR). The target price is set to €9.

In a research note published this morning, the analysts mention that the company is scheduled to report its Q1 results, adjusted in-line with the IFRS system, on April 28. The analysts expect Alcatel's results for the quarter to reveal market share contraction, significant price cuts in broadband access and a decline in its legacy equipment segment. Dresdner Kleinwort Wasserstein expresses its concern regarding the ability of the company's balance sheet to absorb material shocks.

[grupo] 11/4/2005 17:59

1314 GMT [Dow Jones]--Alcatel (ALA) signed an estimated $750M in mobile infrastructure contracts in 1Q vs EUR340M on average per quarter in 04, says SG Securities. Given that, says "speculation surrounding a Thales (12132.FR) deal is overshadowing a strong performance by Alcatel in its core businesses." Adds: "it appears obvious that the endgame for the European space/defence industry consolidation is drawing nearer. We would prefer not to see Alcatel involved." Alcatel +0.1% to EUR9.42. (BJL)

[grupo] 11/4/2005 12:50

LONDON (AFX) - Moody's Investors Service said it has raised Alcatel's main
debt rating to Ba1 from Ba3.
The ratings agency also said the outlook for the ratings is positive as a
"return to investments grade is considered possible over the next 12 to 18
months, if Alcatel continues on its path towards strengthening operating
profitability and cash flows, while maintaining its financial flexibility."
Moody's added that the rating action concludes a rating review that was
initiated on Feb 24.
cml

[grupo] 10/4/2005 20:38

Alcatel watchers seek a message

Peggy Hollinger / London April 11, 2005



Observers say Alcatel's boss Serge Tchuruk might be looking to diversify group's businesses.

Alcatel may be a specialist in communication networks, but it seems that internally, at least, there has been a bit of a systems breakdown. The man once cited as heir apparent to Serge Tchuruk, Alcatel's executive chairman, is quitting after his boss, aged 67, decided to stay on for another two years.

Philippe Germond, poached from Vivendi Universal three years ago, has decided to leave rather than stand in the grand old man's shadow any longer. But is that really the only significance to be drawn from his departure?

There were some in the market who speculated that it signalled a disagreement over the future of the business, which in the past decade has been transformed from an industrial conglomerate to a leading global supplier of equipment to the telecommunications industry.

"It seems that there have been disagreements in strategy, particularly with the potential diversification . . . into defence," says Richard Windsor, analyst with Nomura. Germond, he says, appeared to be "more in favour of keeping the company as a pure play".

Tchuruk has done a formidable job in the past 10 years pulling Alcatel back from the brink. Former head of French oil giant Total, Tchuruk was brought in to Alcatel in 1995, when the group incurred $5 billion in losses. Within a year he had the business back in profit, only to see Alcatel fall back again when the telecoms bubble burst with a vengeance in the early 2000s.

One costly restructuring later, Alcatel is in profit again and looking to the next stage of its growth. Now some industry experts speculate that Alcatel could be on the brink of a big deal.

Certainly, Goldman Sachs has suggested in the past that the group may be stretched to meet its 10 per cent operating target this year, given increasing pricing pressure in its mobile business.

The investment bank has said radical action such as "a major industry merger" could address this, although it would be risky. Yet Alcatel seems to be interested in the idea. The group has begun discussions with Thales, the defence electronics company: it owns 9 per cent and the French government 31 per cent.

Tchuruk has long wanted to take Alcatel into the rapidly growing defence sector. When Alcatel, along with Dassault, became the government's preferred industrial partner in Thales in 1998, Tchuruk had high hopes of a close relationship between the two companies. But the synergies were never as great as expected, and Tchuruk now appears to be looking for another way in.

Reports say the talks with Thales involve Alcatel injecting its satellite business into the defence group in return for a stake of up to 30 per cent. But it could be that these discussions go even further.

Certainly, a deal with Thales would reduce Alcatel's dependence on the volatile civil telecoms business, which accounts for two-thirds of sales. Should that fail, there is always the option of returning to Lucent, the US equipment supplier which Tchuruk courted in 2001, or Nortel of Canada.

Any such deal would be a significant achievement in Tchuruk's final years at the helm.

But it is arguable that, even then, this fiercely driven industrial boss will be satisfied as it still leaves the question of growing competition in fixed and mobile communications.

How clever, then, to think about another deal two years down the road, which would leave a lasting legacy. Some have suggested that Tchuruk could be interested in Thomson, which under his friend Frank Dangeard is being transformed into a media services provider.

But first, Tchuruk will have to find his successor. And that is a question shareholders will want answered by the annual meeting in May.

[ariane] 08/4/2005 13:44

(Adds further comment from Alcatel; background)
PARIS (AFX) - Alcatel SA said chief operating officer Philippe Germond will
present his resignation at a board of directors meeting on April 19, confirming
a report in French daily Les Echos this morning.
The company did not say why Germond is stepping down.
"I regret Philippe Germonds decision," said chief executive Serge Tchuruk in
a statement. "In the last two years, he has actively participated in the
companys recovery."
An Alcatel spokesman said the company would not provide any reasons for
Germond's departure, and he would not reveal if a replacement has already been
lined up.
Les Echos said Germond's resignation was due to a dispute over future
strategy for Alcatel, in particular a plan favoured by Tchuruk to pursue a
stronger industrial alliance with Thales, in which Alcatel holds a 9.5 pct
stake.
The Alcatel spokesman refused to comment on this report.
Last week, the company said it will ask shareholders to adopt a split of the
chief executive and chairman roles, currently both held by Tchuruk, and also a
change in corporate regulations that would allow him to extend his mandate as
chairman by two years.
Alcatel will request the changes at its AGM on May 20.
[e-mail]
js/ma/ec

[maywillow] 08/4/2005 07:28

PARIS (AFX) - Alcatel's chief operating officer Philippe Germond is to
resign following a falling-out over strategic issues with Chief Executive Serge
Tchuruk, Les Echos reported.
The announcement will be made official in a few days at the
telecommunications equipment maker's board meeting, the financial daily said.
Alcatel said it will ask shareholders at its annual meeting on May 20 to
extend the mandate of the chairman by two years, in the event of a split of the
top job. The move would open the way for Tchuruk - who is chairman as well as
chief executive - to remain as chairman for another two years.
Germond had been frequently mooted as a possible successor to Tchuruk, but a
disagreement about strategy has arisen between the two men, the newspaper added,
without naming sources.
Germond is said not to be in favour of closer links with defence contractor
Thales.
[e-mail]
jms

[waldron] 07/4/2005 08:28

Europe's space industry takes off
By Tim Bowler
BBC World Service business reporter



Europe has been celebrating the success of the Huygens mission

This year has seen a remarkable first for Europe - the successful landing of the Huygens space probe on Saturn's moon, Titan.

In addition, Europe's Mars Express has spotted signs of recent volcanic activity on Mars, Smart 1 has begun its search for water-ice on the Moon, and the Rosetta probe is en route to become the first spacecraft to orbit and then land on a comet.

Europe's space scientists are catching up fast with their Russian and US counterparts

But despite these successes, one in five workers in Europe's space industry have lost their jobs in recent years because of a slump in demand for satellites from the telecoms sector.

Yet help could now be at hand thanks to a new player in the space business - the European Union.

Leading role

The French-based company Arianespace is a key player in the European space industry.

It has been responsible for putting more than 250 satellites into orbit, and last year it ordered 30 new Ariane 5 rockets from the European aerospace giant EADS.

There are good prospects for the future with a new and reinforced European space policy

Pascale Sourisse, chief executive Alcatel Space

This multi-billion dollar order has put rocket production on a much firmer economic footing, says Arianespace's chief executive, Jean Yves Le Gall.

"Arianespace has half of the market of the commercial launches," he says. "In the field of the scientific programme, Europe has got tremendous results. Europe today plays a leading role and with probably a much more efficient system than its competitors."

The German city of Bremen is home to the team which makes the second stage of Europe's massive Ariane 5 rocket - which carry up to 10 tonnes - or two satellites at once - into orbit.

"At the moment Arianespace foresees a need for about five second stages from us a year," says Richard Pitt, of EADS Space Transportation.

"We have only just had the qualification flight so we have to do analysis of all the measurements, so we'll be making fewer stages this year, but then we will ramp up production next year."

Boldly going

The French company Alcatel Space has joined forces with Italy's Finmeccanica to create the world's third largest satellite manufacturer.


Europe's giant Ariane 5 rocket can carry two satellites at once into orbit

"The market is recovering a little bit," says Pascale Sourisse, Alcatel Space's chief executive.

"Something that needs to be kept in mind is that a very substantial part of the satellite market is not based on the commercial market, it's based on the institutional market. That means government programmes, space agency programmes," he says.

"There are good prospects for the future with a new and reinforced European space policy, the first example of it being the Galileo programme."

Galileo is Europe's $4bn (£2.1bn) satellite navigation system and will eventually rival the existing American GPS system, which Europe argues is ultimately controlled by the US military.

Galileo is a joint project between the EU and the European Space Agency (Esa), and its project manager, Xavier Benedicto, believes millions of people will eventually benefit from using the system in their cars and phones.

Private funding

But some analysts caution against too much optimism.

They say even with EU involvement, there will not be much more money pouring into the space industry's coffers.

Rachel Villain, of research group Euroconsult, says the EU wants businesses to stump up some of the cash through private finance initiatives (PFI).

It is a model the EU has already adopted for Galileo.

"The EU has warned the space industry that it cannot put in a lot of money in addition to the money that comes from Esa," she says.

"The EU has said the space industry will have to commit itself more and more in the form of new financing initiatives, as it is done in the UK with PFI."

Hi-tech future

Away from the commercial sector, it is human spaceflight that grabs most of the headlines.

Europe funds a 16-strong team of astronauts, but putting people in space is extremely expensive, and there is always the question of whether government budgets would go further by simply relying on robots.

But Arianespace argues having an independent access to space is politically and economically important for Europe.

"Having a space industry is very important for countries," says Mr Le Gall. "In the US, the space industry is a kind of driver for the world's aeronautics industry and in Europe we must have a space industry for the same reasons."

[waldron] 05/4/2005 07:21

PARIS (AFX) - Thales is about to start tie-up talks with France's
state-owned shipyard group Direction des Constructions Navales (DCN) after
Thales shareholder Alcatel dropped its opposition to the deal, La Tribune
reported.
The paper cited an unnamed Thales source as saying Alcatel, which holds 9.1
pct of Thales, "is no longer vetoing or opposing" a tie-up between Thales' naval
business and DCN.
It cited sources as saying however that while DCN is ready to start talks
now and is prepared to merge its maintenance activities from 2006, Thales's
Thales Naval France division is suffering a downturn in earnings, which would
mechanically reduce its weight in a combined entity.
Thales would own 25-35 pct of the new group, the paper said.
Rumours of a merger between Thales and Alcatel have circulated on the Paris
market for years, most recently in March when reports claimed Alcatel has
offered to swap its space operations for a stake in the defence electronics
group.
According to La Tribune, Alcatel is not convinced by the merits of a
Thales/DCN merger but hopes DCN would be selected by the government to lead the
process of naval consolidation in France and Europe, leaving Thales and Alcatel
free to merge.
Alcatel has long said its stake in Thales is 'either too much or too
little.'
La Tribune added, without naming its source that DCN will unveil on April
21, 2004 net profit of 180 mln eur, after 41 mln in 2003 and expects this to
swell to 200 mln this year.
DCN's sales rose 37 pct to 2.6 bln in 2004.
[e-mail]
mrg/ra

[waldron] 04/4/2005 15:24

LONDON, April 4 (newratings.com) - Analysts at Dresdner Kleinwort Wasserstein maintain their "sell" rating on Alcatel (CGE.ETR). The target price is set to €9.

In a research note published this morning, the analysts mention that the company's 2004 IFRS-based net income of €600 million included €144 million derived from discontinued operations. The company has significantly reduced its provision levels for 2005, Dresdner Kleinwort Wasserstein says.

[waldron] 03/4/2005 10:26

PARIS (AFX) - Alcatel SA chief executive Serge Tchuruk will invest the variable
portion of his 2005 salary, after taxes, in the purchase of Alcatel stock, the
company said.

Tchuruk's gross variable salary has been raised to 1.3 mln eur for 2005, up from
770,000 eur last year, "in consideration of the CEO's performances in terms of
the group's recovery, and the operating profits acquired within a difficult
environment", Alcatel said.

The company will also offer 16.8 mln stock options to about 9,500 employees this
year, allowing them to buy shares at 10 eur each.

[e-mail]

js/ma

[maywillow] 02/4/2005 09:45

1231 GMT [Dow Jones] Alcatel (ALA) has proposed separating functions of chairman and CEO, and extending the chairman's age limit to 70 from 68. This would pave the way for Serge Thuruk, chairman and CEO for past 10 years, to remain as chairman. This move "is not unexpected, but the company could do with a change," says Edmund Shing from Kepler. Alcatel lost cumulative EUR6.6B in 2002, 2003, and returned to profit of EUR281M in 04. Shares flat at EUR9.36. (BJL)

[waldron] 30/3/2005 09:27

IFRS boost to Alcatel earnings
By Lucy Killgren
Published: March 30 2005 08:53 | Last updated: March 30 2005 08:53
Alcatel on Wednesday said 2004 net income would have been €319m ($412m) higher under new accounting standards as it confirmed full year targets.




In 2004 net profit under International Financial Reporting Standards would have risen to €600m from €281m reported under French GAAP over the same period, while operating profit would have been €1.18bn, compared with €978m under the current French GAAP standard.

The new IFRS are due to be used by every company in the European Union from this year. They have been introduced to reduce differences between accounting standards across borders, making it easier for investors to compare financial performance.

The world's largest provider of broadband internet equipment said it still expected "low to mid single digit" growth in sales in the first quarter of 2005 and the full year.

Last week it emerged that Thales, the French electronics defence group, may have looked at the possibility of pooling its satellite interests with Alcatel, which is one of its largest shareholders.

The contract with Alatel was understood to be one of many options with no firm discussions underway. Alcatel, which has 9.5 per cent of Thales, has indicated it wants to step up its presence in the rapidly growing defence sector.

Last month, Alcatel undershot expectations for fourth quarter earings as it allowed margins to slide in the battle for overseas business, reporting net income of €40m in the three months to the end of December, less than a third of what analysts were hoping for, despite returning to profit after losses of €524m in 2003.

[waldron] 30/3/2005 09:21

0808 GMT [Dow Jones] Alcatel's (ALA) higher '04 profit under IFRS doesn't change much in terms of outlook for the stock, says Edmund Shing of Kepler Equities. "Everybody's already priced in the amortization affect. And margins go up because of the capitalization of R&D, but underlying margins don't change at all...at the end of the day, Tchuruk must deliver," he says. Shares -0.5% at EUR9.53. (BJL)

[waldron] 30/3/2005 07:38

PARIS (AFX) - Alcatel SA confirmed its full-year 2005 targets as it reported
a sharp rise in full-year net profit in 2004 under IFRS accounting standards
compared with results already reported under French GAAP.
In 2005, it said it still expects "low to mid single digit" growth in sales
in the first-quarter and the full-year.
Meanwhile, earnings per share pre-goodwill is still seen positive in the
first quarter of 2005 and should show double-digit year-on-year growth in the
full-year.
In 2004, net profit under IFRS would have risen to 600 mln eur from the 281
mln reported under French GAAP in the same period, while operating profit would
have come in at 1.181 bln eur, an improvement on the 978 mln reported under
French GAAP.
[e-mail]
sr/jfr

[ariane] 28/3/2005 10:44

Türk Telekom Orders 600,000 More DSL lines from Alcatel
Türk Telekom, the incumbent telecom operator in Turkey, awarded a multi-million Euro expansion contract to Alcatel to supply 600,000 DSL lines. The broadband network extension, which comes on top of the 200,000 DSL lines delivered last year by Alcatel, will enable Türk Telekom to expand its service coverage to remote sites throughout the country. Over the past years, Alcatel has supplied the majority of Türk Telekom's core Internet infrastructure, referred to as "TTnet", 100% of the narrowband access network, as well as the majority of the DSL network.

21-Mar-05

[ariane] 28/3/2005 07:45

Thales talks to Alcatel to avoid EADS takeover


March 27, 2005 12:00 AM (GMT)
DENNIS Ranque, chairman of French defence group Thales, could yet come up trumps in his battle to avoid takeover by rival EADS and catapult his company into the global first division.

Thales, Britain's second-biggest defence contractor after BAE Systems, has apparently opened talks with French telecoms equipment maker Alcatel about a partnership.

A tie-up would be the latest move in pan-European defence consolidation. After the creation of aerospace giant EADS, Italy's Finmeccanica has bought British helicopter maker Westland, and the French government is merging aero-engine group Snecma with phones-to-defence electronics group Sagem.

Last year, French ministers tried to engineer a takeover of Thales by EADS, but backtracked in the face of opposition from EADS's German shareholder DaimlerChrysler and Britain's Ministy of Defence.

Although neither Thales nor Alcatel will confirm it, reports say Ranque has opened discussions with Alcatel about acquiring its share of the satellite businesses Alcatel jointly owns with Finmeccanica. Alcatel has 67% of Alcatel Alenia Space, which makes satellites, and 30% of Telespazio, a satellite communications service company.

Doing the deal for shares would allow Alcatel to increase its 9.5% stake in Thales to something approaching a blocking minority, perhaps allowing the French government to reduce its 31.3% holding.

The deal would be underpinned by collaboration with Thales' successful military communications business, which Alcatel covets as a less cyclical counterweight to its mainstream activity of supplying equipment to telecoms network operators.

Desperate to escape takeover by EADS, Ranque is said to favour a merger with Finmeccanica, its closest European rival in warplane avionics and defence electronics.

Merging Thales, which had revenues last year of E10.3bn ($13.8bn, £7.6bn), with Finmeccanica would create a European champion in defence electronics, with annual sales of more than E20bn. That compares with E30bn for EADS, but two-thirds of EADS sales are derived from Airbus civil jets.

Ranque is said to be weighing a merger with the Snecma-Sagem combine, to be renamed Safran; it has E10bn of annual sales. Synergies would be fewer than could be achieved with a Finmeccanica deal.

Another option, according to a recent analysis by broker Merrill Lynch, would be a break-up of Thales. Under this scenario, Alcatel would take the defence communications arm.

ROSS TIEMAN

in Toulouse

[waldron] 26/3/2005 17:07

Alcatel, Nortel Ink Wireless OEM, Development Deals
Cisco's Airespace buy leaves networking vendors scrambling

By Dan Neel & Jennifer Hagendorf Follett, CRN
2:02 PM EST Fri. Mar. 25, 2005
From the March 28, 2005 CRN
As Cisco Systems closed its acquisition of wireless switch vendor Airespace last week, networking heavyweights Alcatel and Nortel Networks were lining up new vendor partners.

Alcatel last week struck an OEM and development partnership with Aruba Wireless Networks, while Nortel unveiled a similar arrangement with Trapeze Networks.

The Aruba-Alcatel partnership effectively ends a wireless partnership between Airespace and Alcatel. Cisco's acquisition of Airespace also was the lynchpin of Nortel's Trapeze act. Nortel will continue to support its Airespace-sourced products, but the vendor's focus will be on its Trapeze arrangement going forward.

The Aruba deal will allow Paris-based Alcatel to rebrand and resell Aruba's entire product line, said David Butler, vice president of business development at Sunnyvale, Calif.-based Aruba.

The two companies also will engage in cross-licensing of one another's technology and joint development of new wireless technologies.

"We are quickly going to build differentiated Aruba products from Alcatel products," he said. "There's a really aggressive product introduction strategy behind this."

Steve Thorpe, president of Adaptive Communications, a Portsmouth, N.H.-based Nortel partner, said Nortel had to react after Cisco acquired Airespace. "Trapeze is clearly one of the leaders in the space, along with Aruba," he said. "They were getting some good momentum going [in wireless]. Obviously, the acquisition did have an effect."

The deal with Trapeze will allow Nortel to improve upon, rebrand and resell Trapeze's entire WLAN portfolio, said Bruce Van Nice, vice president of marketing at Trapeze, Pleasanton, Calif. Joint development of new technologies and the embedding of Trapeze's WLAN tools into Nortel communications platforms are also part of the new partnership, Van Nice said.

Nortel plans to add its own "special sauce" to the Trapeze product line and then offer the jointly developed products under its own name, said Atul Bhatnager, vice president and general manager of enterprise data networking at Nortel, Brampton, Ontario. The first jointly developed offering, dubbed the WLAN 2300 product family, will debut in May or June.



--------------------------------------------------------------------------------


Over time, Nortel plans to integrate its VPN technology into the wireless platform and also to integrate the wireless technology into its wired network switches, Bhatnager said.

The new product family will include an 802.11a/b/g access point, five wireless switch models and WLAN management software. Pricing has not yet been established. The two companies have been working on joint development efforts since January, Bhatnager said.

Since Alcatel and Nortel chose to partner with rather than acquire WLAN switch vendors, they are vulnerable to repeating history if another player such as 3Com or Juniper Networks makes Aruba or Trapeze an acquisition target, industry observers said.

Trapeze already has an OEM/joint development agreement with 3Com, in place since August.

[grupo] 25/3/2005 09:36

Home > Alcatel's press briefing on IFRS on March 31, 2005
Alcatel (Paris: CGEP.PA and NYSE: ALA) will communicate the quantitative impact resulting from the transition to new accounting standards, International Financial Reporting Standards, (IFRS) on March 29, 2005.





i-Newswire, 2005-03-25 - This information will include the balance sheet at Jan 1st, 2004 and Dec 31, 2004, the 2004 quarterly and annual income statements as well as tables reconciling the 2004 financial statements based on French GAAP to those restated under IFRS.

A conference call will be organized on March 30, 2005 at 2 pm Paris time for the financial community with Alcatel's CFO, Jean-Pascal Beaufret. If you want to connect please use the following dial-in numbers:

International: [phone] ( number in the US )
From the US: 888 428 44 79

This conference call will be available for replay from March 31 at 9:00 am until April 13 noon Paris time. The call-in numbers are as follows:

From the US: 800 475 6701 ( access code 774553 )
International: [phone] ( access code 774553 )

A press briefing with Alcatel's deputy CFO, Claire Pedini, will be held in Alcatel's HQ premises, 54 rue La Boétie, Paris 8, on March 31, 2005 at 9:30 am ( Paris time ).

Alcatel will report first quarter 2005 results under these new accounting standards on April 28, 2005.

About Alcatel
Alcatel provides communications solutions to telecommunication carriers, Internet service providers and enterprises for delivery of voice, data and video applications to their customers or employees. Alcatel brings its leading position in fixed and mobile broadband networks; applications and services, to help its partners and customers build a user-centric broadband world. With sales of EURO 12.3 billion in 2004, Alcatel operates in more than 130 countries.


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