NSN charges to profit in Q4 as sales increase and costs drop
Jan 25, 2013
Nokia Siemens Networks reported a record operating margin and surging sales and operating profit in the fourth quarter as its strategy of cutting jobs and units not related to mobile broadband begins to pay off. Nokia CEO Stephen Elop said that the vendor “had a tremendous and successful 2012” but also said that Nokia is open to “all options” for NSN.
NSN reported an underlying operating profit of $766m, up from $234m in the year-ago period, and the vendor’s net sales grew 14 per cent year-over-year. Additionally, NSN posted an operating margin of 14.4 per cent, up from 4.2 per cent in the year-ago period and marking the fifth straight quarter NSN has generated positive cash flow.
FierceWireless: Nokia Siemens charges to profit in Q4 as sales increase, costs drop; TelecomTV content partner.