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Nokia moves to profit, boosts cash after handsets sale
2014-04-29 08:36:00| Telecompaper Headlines
(Telecompaper) Nokia reported first-quarter sales from continuing operations down 15 percent from a year earlier to EUR 2.664 billion. Adjusted operating profit rose 20 percent to EUR 304 million, and the net result improved to a profit of EUR 0.03 per share from a loss of 3 cents a share a year ago. The results exclude the handset activities sold to Microsoft, the proceeds of which boosted Nokia's net cash position to EUR 7.1 billion. The company also announced a special dividend of EUR 0.26 per share, plus its ordinary dividend for 2013 of EUR 0.11 per share. The main business Nokia Solutions and Networks recorded Q1 sales down 17 percent to EUR 2.33 billion, as equipment sales were flat and services revenue fell 25 percent. Cost reductions helped operating profit improve 10 percent year-on-year to EUR 216 million. The Here navigation division also moved to an operating profit of EUR 10 million on sales down slightly to EUR 209 million, and Nokia generated another EUR 131 million in revenue from licensing. Nokia maintained its full-year outlook for NSN to reach the high end of its long-term target of 5-10 percent adjusted operating margin, after a result of 9.3 percent in Q1. In addition, it now expects NSN to report annual sales growth in the second half of 2014. In Q2, the company expects a negative impact on margins from lower software sales at NSN and cash flow to be impacted by staff incentive payments.
General Mills Is Making The Right Moves
2014-04-27 01:28:07| Agriculture - Topix.net
Weakness in consumer spending in the U.S. and Europe has been the key problem for retailers, and food retailers are no exception.
Tags: general
making
moves
mills
US: Deckers Outdoor moves to Q1 loss
2014-04-25 18:00:00| Daily apparel & textile news and comment - from just-style.com
Deckers Outdoor Corporation has moved to a loss in its first-quarter but reported sales that beat its estimates.
Tags: loss
outdoor
moves
deckers
Chicago moves closer to plastic bag ban
2014-04-25 17:29:00| Canadian Plastics Headlines
Chicago is poised to become the next major U.S. city to enact a ban on single-use plastic bags after a City Council committee vote April 24.
Tags: chicago
plastic
bag
closer
Housing goes from hopeful to underwhelming as 2014 moves along
2014-04-25 04:54:16| Real Estate - Topix.net
Housing experts are dialing back rosier projections in favor of another ho-hum year, where home sales are flat and prices climb to make ownership less affordable.
Tags: housing
moves
hopeful
underwhelming
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