Alcatel-Lucent swings to Q1 loss on restructuring costs

PARIS Fri May 9, 2014 1:36am EDT

PARIS May 9 (Reuters) - Telecom network gear maker Alcatel-Lucent swung to a first-quarter net loss of 73 million euros as restructuring costs and lower-margin Chinese mobile contracts weighed on profitability.

The results, which were adjusted for the sale of the enterprise business in March, showed Alcatel-Lucent making progress on its key cost-cutting projects as it enters the third quarter of a turnaround plan to end-2015.

Its first-quarter sales were 2.96 billion euro, and adjusted operating income was 33 million euro. (Reporting by Leila Abboud; editing by Geert De Clercq)