Ericsson Turns To Profit In Q4; Says Tracking Well Towards 2020, 2022 Targets

(RTTNews) - Ericsson (ERIC) reported that its net income attributable to stockholders of the parent company for the fourth-quarter was 4.43 billion Swedish kronor or 1.33 kronor per share compared to a net loss of 6.55 billion kronor or 1.99 kronor per share in the prior year.

Taxes for the latest-quarter were negative 1.6 billion kronor compared to negative 3.9 billion kronor in the prior year. The prior year taxes were negatively impacted by impairment of withholding tax assets and nondeductible expenses. The cost provision related to the resolution of the US SEC and DOJ investigations was handled as non taxdeductible.

Net sales for the fourth-quarter rose 4 percent to 66.37 billion kronor from 63.81 billion kronor last year. Sales adjusted for comparable units and currency increased by 1% year-over-year with growth in market areas Middle East & Africa, North East Asia and South East Asia, Oceania and India.

The company said its board will propose a dividend for 2019 of 1.50 kronor per share to the Annual General Meeting, compared to 1.00 kronor per share paid in 2018.

The company said it is tracking well towards its targets for 2020 and 2022, but most importantly, it is making progress towards building a stronger company long term.