[May 24, 2013] Nokia Siemens Networks Q1 net loss down Tweet May 24, 2013 (Datamonitor via COMTEX) -- Nokia Siemens Networks, a provider of mobile broadband services, has reported that net loss for the first quarter ended March 31, 2013 was E136 million, compared to a net loss of E1.28 billion, for the same quarter ended March 31, 2012. Net sales for the first quarter ended March 31, 2013 were E2.72 billion, compared to E2.86 billion for the same quarter ended March 31, 2012. Gross profit for the first quarter ended March 31, 2013 was E899 million, compared to E414 million for the same quarter ended March 31, 2012. Operating profit for the first quarter ended March 31, 2013 was E10 million, compared to an operating loss of E989 million for the same quarter ended March 31, 2012. Rajeev Suri, CEO of Nokia Siemens Networks, said: "The Q1 2013 results demonstrate that we are executing well on our strategy and our turnaround is on track. We have fundamentally improved execution capabilities across the organization, through steps such as centralization of pricing, shifting to global delivery of services, and strengthening contract management. "As a result, we have built an organization that can deliver strong operating profitability even in a quarter with seasonally lower revenues. In addition, our strong position in LTE demonstrates the power of our focus on both innovation and quality." http://www.datamonitor.com Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon [ Back To TMCnet.com's Homepage ]