Nokia Sees Profit In 3Q11
18.05.12
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Quarterly net revenue was approximately $12,711 million, down 13% year over year, but surpassed the Zacks Consensus Estimate of $12,296 million. Quarterly net loss was approximately $214 million or a loss of 3 cents per share compared with a net income of $456 million or 20 cents per share in the prior-year quarter. However, the third quarter of 2011 adjusted (excluding special items) EPS of 4 cents was significantly above the Zacks Consensus Estimate of a loss of 1 cent.
Quarterly adjusted operating income was approximately $357 million, down 60% year over year. Adjusted operating margin in the third quarter was 2.8% compared with 6.2% in the year-ago quarter. Operating cash flow in the reported quarter was $1,206 million, up 94% year over year.
At the end of the third quarter of fiscal 2011, the company had more than $7.17 billion of net cash and marketable securities compared with $9.52 billion at the end of fiscal 2010. At the end of the reported quarter, Nokia’s debt-to-capitalization ratio was 0.22 compared with 0.21 at the end of fiscal 2010.
Source: Daily Markets
