Shares of Alcatel-Lucent (ALU) are down over 8% in European trading, as they should be. After the much heralded merger, the integration of the two companies has been a disgrace.
Revenue in the second quarter fell from 4.491 billion euros last year to 4.326 billion. The company swung to a loss of 336 million euros. Gross profit fell sharply.
ALU is a company where the merger and the benefits of the transaction to put the two telecom gear companies never seems to end. The deal promised big savings and improved revenue from a larger global marketing force.
The CEO, Patricia Russo, has achieved none of the above. But, she does get to stay in Paris a lot.
Douglas A. McIntyre
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