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Juniper Networks plans more cost reductions on weak demand
2014-10-24 08:29:00| Telecompaper Headlines
(Telecompaper) Juniper Networks announced plans for additional cost reductions after lower-than-expected results in Q3. Amid falling demand from service providers, the company's quarterly revenues decreased 5 percent year-over-year and 8 percent sequentially to USD 1.126 billion. The operating margin improved to 15.3 percent from 12.2 a year ago, helped by a USD 15 million benefit from restructuring and other charges. Net profit also benefited from the one-time items, rising to USD 103.6 million from USD 99.1 million a year ago. Adjusted EPS of USD 0.36 was up 9 percent year-on-year and fell 10 percent compared to the second quarter of 2014. CEO Shaygan Kheradpir said the company was disappointed with the results, which reflect weaker demand particularly in the US. The company announced additional cost reductions of USD 100 million, and increased its total annualized commitment to USD 260 million, designed to lower operating expenses while improving profitability and long-term growth. The cost reductions will include a "careful management of headcount, focus on improved efficiencies and prioritization of revenue-generating projects", Juniper said. Looking ahead, the group expects the revenue environment to be "challenging". It forecast fourth-quarter revenues of USD 1.025-1.075 billion, an adjusted operating margin around 18.5 percent and adjusted EPS of USD 0.28-0.32.
Tags: cost
plans
networks
demand
Germany shares plans for Q2 2015 spectrum auction
2014-10-24 02:00:00| Total Telecom industry news
State to sell off frequencies in various bands, including 700-MHz second digital dividend, in bid to boost mobile broadband, competition.
Tags: germany
plans
auction
shares
Gulf Craft plans $100m new shipyard and service centre in Dubai Maritime City
2014-10-24 01:00:00| Ship Technology
Luxury yacht and fibreglass boat manufacturer Gulf Craft has signed an agreement with Dubai Maritime City (DMC) to invest $100m in a new shipyard in a bid to develop a global manufacturing facility.
Tags: service
city
plans
centre
Telekom Austria confirms plans for capital increase
2014-10-23 08:56:00| Telecompaper Headlines
(Telecompaper) Telekom Austria has confirmed plans to hold a capital increase by the end of the year. The operator received approval from shareholders in August to raise up to EUR 1 billion in a share sale. Further details of the offering will be announced later. Telekom Austria confirmed the news alongside its third-quarter results, which showed continued pressure from the weak economy and regulation in central and eastern Europe. Revenues showed an improvement, rising 1.2 percent year-on-year to EUR 1.05 billion in Q3, thanks to growth in Belarus and Croatia and a smaller decline in Austria. Cost reductions in its home market helped adjusted EBITDA rise 15.8 percent to EUR 415 million, and net profit more than doubled to EUR 123 million from EUR 51 million a year ago. Profit benefited from lower restructuring charges as well as a one-time gain of EUR 26.8 million from the merger of Mobilkom liechtenstein with Telecom Liechtenstein. Telekom Austria said it will continue to focus on cost control and convergence to drive revenue growth. It maintained its outlook for an around 3.5 percent fall in revenue this year. Capital expenditure is expected at EUR 650-700 million, after EUR 473 million in the first nine months, and the group will pay a dividend of EUR 0.05 per share.
Tags: increase
capital
plans
austria
Turkey plans to construct third nuclear power plant
2014-10-23 01:00:00| Power Technology
Turkey intends to construct a third nuclear power plant by 2018-2019 as a national project, announced Turkish Prime Minister Ahmet Davutoglu.
Tags: power
plans
plant
turkey
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