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Last $10.98 USD
Change Today +0.06 / 0.55%
Volume 3.8M
As of 8:10 PM 05/1/15 All times are local (Market data is delayed by at least 15 minutes).

ericsson (lm) tel-sp adr (ERIC) Key Developments

Ericsson to Build New Research and Development Centre in Montreal

Ericsson will host a ground-breaking ceremony for its new Montreal-based Research and Development (R&D) and Services Centre. The company will relocate its Montreal-based R&D and Services Centre to a new site located on Poirier Street, fronting on the Trans-Canada Highway, in the City of Montreal, Borough of Saint `Laurent. The facility will house the company's more than 1,700 employees with the move expected to be completed in early 2017. The new Montreal office will provide Ericsson with an efficient and space to effectively support business needs in Montreal well into the future.

Ericsson Launches Cloud DVR Solution

Ericsson has launched its cloud DVR, or digital video recorder, solution, applicable to all QAM and IP-based TV platforms. This crucial consumer application is powered by the Ericsson Video Storage and Processing Platform, a high performance, software-based infrastructure. Ericsson's new platform offers a unique, proven infrastructure, which allows for seamless augmentation and replacement of legacy TV services with new cloud-based services. It integrates and virtualizes the storage and processing capabilities of as many Commercial-Off-The-Shelf (COTS) servers as needed, providing outstanding performance gains and allowing operators to avoid many of the complexities and costs associated with launching new services. In addition to powering the most proven-at-scale cloud DVR deployments, the Ericsson Video Storage and Processing Platform also enables multiple video storage and video processing applications that include: Master video library; Long tail server; Dynamic origin server; CDN (content delivery network) assist; and Enhanced VOD.

Ericsson Seeks Acquisitions

Ericsson (OM:ERIC B) is mulling a string of acquisitions across segments ranging from Internet protocol network and cloud computing to TV broadcasting as it seeks to consolidate its market position. "We respect the Nokia-Alcatel Lucent combination, but we have our own strategies too and plan to ring in a series of strategic global acquisitions across our core businesses and emerging areas to hold our own ground," Chief Executive Hans Vestberg told. Other potential areas for acquisitions include emerging areas such as operations support systems and business support systems.

Ericsson Announces Consolidated Earnings Results for the First Quarter Ended December 31, 2014

Ericsson announced consolidated earnings results for the first quarter ended December 31, 2014. The company reported a 14% drop in first-quarter net profit. The company posted a net profit of SEK 1.5 billion compared with SEK 1.7 billion in the corresponding period of 2014. Net sales, however, rose 13% year-on-year to SEK 53.5 billion boosted by a stronger US dollar to the Swedish krona, and growth in China, India, Southeast Asia and the Middle East. Operating income was SEK 2.1 billion compared to SEK 2.6 billion a year ago. Excluding restructuring charges of SEK 0.6 billion, the operating income was flat year over year. Cash flow used in operating activities was SEK 5.9 billion compared to cash flow from operating activities of SEK 9.4 billion a year ago. The company ended the quarter with a negative cash flow from operating activities was mainly due to a change in business mix with less capacity business in North America and a higher share of coverage business in Mainland China. This impacted working capital negatively. Diluted EPS was SEK 0.40 compared to SEK 0.65 a year ago. EPS (Non-IFRS) was SEK 0.77 compared to SEK 0.90 a year ago. Income after financial items was SEK 2,077 million against SEK 2,419 million a year ago. Net income attributable to stockholders of the parent company was SEK 1,319 million against SEK 2,120 million a year ago. Investments in property, plant and equipment was SEK 2,367 million against SEK 1,034 million a year ago.

General Communication, Inc. and Ericsson Brings High-Speed Access to Alaska's North Slope

General Communication Inc. announced that it is partnering with Ericsson, to bring advanced, high-speed fixed and mobile connections to Alaska's oil producing North Slope. GCI has long been a leader in supporting the telecommunication needs of the companies and employees in the region. GCI has 20 active towers and the only terrestrial fiber optic connection to Prudhoe Bay. GCI has begun construction and installation of its new advanced, high-speed wireless data network, which will include a total of nine sites spanning from Kuparuk to Point Thomson, stretching more than 3,738 square miles, an area larger than the size of Delaware and Rhode Island combined. The new network will be Long Term Evolution (LTE) technology with data download speeds in excess of 30Mbps. This high-speed connectivity will support advancing oil field data requirements and improve overall oilfield operations. The network will have several new LTE sites that uniquely provide service to Alaska's oil producers and its support industry at remote drilling campsites. This project is a continuation of GCI's build out of high-speed mobile service across Alaska. In addition to North Slope, GCI already provides LTE to Anchorage, Fairbanks and Juneau and later this year will be turning up LTE service for the Matanuska Valley and Kenai Peninsula.


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