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November 27, 2005

Marconi posts profit as Ericsson ownership nears

Telecoms equipment maker Marconi Corporation Plc, which is in the process of being acquired by LM Ericsson Telefon AB, has reported a 2m pound ($3.4m) profit on its core business for the second quarter to September 30, on revenue up 2.2% at 312m pounds ($535.7m).

By CBR Staff Writer

The company attributed the modest rise in revenues from continuing operations to increased sales of optical and access networks which more than offset lower sales in data networks. However, the main reason for increased performance was the continuing headcount reduction, and adjusted operating expenditure fell 11% to 89m pounds ($152.7m).

Once the Ericsson acquisition is complete, Marconi will be renamed Telent.

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