Alcatel posts 398 million euro Q1 profit after unit sale

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The French telecommunications equipment maker Alcatel-Lucent on Thursday posted a first quarter net profit of 398 million euros ($526.2 million), against a loss of 10 million euros a year earlier.

However, the profits were due largely to 659 million euros in earnings from the sale of Alcatel's Genesys unit.

Group sales tumbled 12.3 per cent to 3.206 billion euros during the first three months of the year, but the company maintain its full year targets for 2012.

They included an adjusted operating margin higher than the level reached in 2011, and a strong positive net cash position at the end of the year.