Thursday, November 24, 2005

Marconi Posts Quarterly Profit

Marconi reported quarterly revenue of £312 million, up 9% sequentially and up 2% on the prior year. The adjusted gross margin was 30.8%, compared with 33.4% a year earlier. There was a profit of £7 million for the quarter, compared to a loss of £6 million in the prior quarter and a profit of GBP 2 million a year earlier.

Marconi said optical and access network solutions continue to be its main drivers of growth.

  • In October 2005, Ericsson agreed to acquire most of Marconi for approximately £1.2 billion (US$2 billion). The deal, which continues the trend of consolidation in the industry, gives Ericsson access to a more comprehensive portfolio of solutions, an expanded R&D capability, and strategically important customer accounts worldwide.

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