French telecomms equipment and industrial engineering company Alcatel saw modest growth in its fourth fiscal quarter in line with analysts? expectations.
Revenue for the period ended 31 December, 1998, rose to $8.3 billion from $7.3 billion a year ago. Sales for its fiscal year grew to $25 billion, an increase of $24 billion over the previous year, while net income was $2.8 billion compared with #1.7 billion in 1997.
Serge Tchuruk, Alcatel?s chief executive, said: "We have met the sales and operating income targets announced in September for the telecoms sector: sales increased by around 10 per cent and income from operations grew by 40 per cent on a year to year comparable basis, even though it was slowed down in 1998 by the economic crises in parts of the world."
Under French law, companies are not required to report net income figures for each fiscal quarter.
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