IN THE PAPERS
In the papers 1 May
01-05-2008
by Sylvia Leatham
BSkyB goes into the red | Alcatel-Lucent posts wider-than-expected loss
The Irish Times reports that software firm Iona Technologies posted first quarter revenue growth but recorded a net loss. Read the full story on ENN.
The paper also says that software maker SAP recorded a quarterly decline in profit, as noted by ENN on Wednesday.
The same paper reports that satellite broadcaster BSkyB has played down a move into the red, resulting from write-downs on its 17.9 percent stake in rival broadcaster ITV. Revenues for the quarter were STG1.25 billion but after impairments on investment in ITV, pretax profit for the quarter fell to STG56 million and the company recorded a loss after tax of STG6 million. However, the company pleased investors with improved revenues from its customer base of nearly 9 million subscribers in the third quarter. Sky Ireland added 13,000 new customers in the quarter to the end of March and now has 548,000 subscribers.
According to the Financial Times, US telecoms group AT&T will launch a live mobile television service on Sunday, using two handsets -- the LG Vu and the Samsung Access -- designed for television viewing. AT&T Mobile TV, which will cost an additional USD15 a month, will offer subscribers 10 channels of broadcast TV, including two exclusive channels -- PIX, from Sony Pictures Television, and CNN Mobile Live.
The paper also says that pressure is again mounting on Alcatel-Lucent's management after the telecoms equipment supplier warned that the weak dollar and delayed customer investment would leave 2008 sales lower than last year. As forecast, Alcatel-Lucent posted a net loss for the first three months, although this was higher than some analysts had expected at EUR181 million, compared with a loss of EUR8 million a year earlier. Pat Russo, Alcatel-Lucent chief executive, insisted she was on track to restore stability to the group, now in its fifth quarter of loss. However, the sharp deterioration in the dollar had adversely affected first-quarter sales growth and this would continue in 2008, she said.
The Wall Street Journal reports that net income at German engineering giant Siemens plunged two-thirds in the most recent quarter, hurt by big write-downs at struggling business units and rising costs from a corruption probe. Net income attributable to shareholders fell 68 percent to EUR384 million in the fiscal second quarter from a year earlier. Revenue rose slightly to EUR18.09 billion. The company still expects revenue to grow twice as fast as the global economy in fiscal 2008 but has scaled back its profit forecast, now expecting operating profit to match that of fiscal 2007.
Caped Koala Studios has built a virtual world for kids, combining education and social networking 