Ericsson has posted its results for the fourth quarter, according to news reports.
The company reportedly posted a net loss for the period under consideration, impacted by charges for its planned exit of the ST-Ericsson venture. However, its sales improved and its revenues increased by 5 per cent from a year ago and by 23 per cent compared to the third quarter at SEK 66.9 billion.
Operating profit excluding joint ventures increased by 17 per cent year-on-year to SEK 4.8 billion, as cost reductions boosted the company?s margins to 7.1 per cent from 6.4 per cent. Ericsson posted a loss of SEK 6.3 billion, which includes SEK 8.0 billion in charges for ST-Ericsson and SEK 0.5 billion for a reduction in deferred tax assets due to the cut in tax rates in Sweden.
Ericsson improved operating cash flow to SEK 15.7 billion in the quarter, versus SEK 5.5 billion a year ago. The company raised its dividend for 2012 to SEK 2.75 per share from SEK 2.50 a year ago.
