As expected, Alcatel reported a net loss of 3.1 billion euros in the quarter ($2.73 billion), most of it related to one-time reorganization charges, including the layoffs, and to write-downs of inventory.
Later, spokesmen for THL and Simmons clarified the statement by saying that after excluding a one-time reorganization expense, an adjusted earnings figure for the quarter was the 10th best in the company's history.
One day before Coca-Cola's annual meeting with shareholders, which is expected to include protests by black Coca-Cola employees, the company said yesterday that it lost $58 million in the first quarter, much of that because of one-time charges for reorganization.
The company said results in the quarter, which ended Oct. 31, were hurt by increased warranty costs, discounts and one-time costs for a plant reorganization.
American Home Products, which is based in Madison, N.J., said it earned $593.2 million, or 45 cents a share, in the fourth quarter, compared with $349.6 million, or 26 cents a share, a year earlier, when the company posted a one-time charge of $240.5 million for reorganization costs.
It expects to incur a one-time charge in 2010 because of the reorganization.
Excluding one-time items related to asset write-downs, reorganization expenses and other costs, profit increased 5percentto to $661.3 million, or 61 cents a share, Lilly said.
American Express reported Thursday that its fourth-quarter net income fell 47 percent, as the credit card issuer racked up charges related to reorganization costs and other one-time expenses.
The reorganization will result in a one-time charge to fourth-quarter earnings of about $76 million, the company said.
The 2008 quarter included $13 million of reorganization charges, versus $82 million of one-time charges a year earlier for revamping and an overhaul of the company's product line.
Rijkman Groenink, who became chief executive in May, said ABN would take a one-time charge this year of 800 million euros for a reorganization.
