Oct 12 Ericsson
* Ericsson announces preliminary Q3 earnings
* Says sales declined by -14 pct year-on-year to SEK 51.1 (59.2) billion, driven by slower development in segment networks where sales declined by -19 pct
* Says business result for Q3 2016 will be significantly lower than company expectations
* Says gross margin declined to 28 pct (34) following lower volumes in segment networks, lower mobile broadband capacity sales, and higher share of services sales
* Says operating income declined to SEK 0.3 (5.1) billion, including restructuring charges of SEK 1.3 billion
* Says negative industry trends from first half 2016, with weaker demand for mobile broadband, especially in markets with weak macro-economic environment, have further accelerated
* Says current trends are expected to continue short term
* Says continued progress in our cost reduction programs did not offset lower sales and gross margin.
* Says we will continue to drive ongoing cost program and implement further reductions in cost of sales to meet lower sales volumes Source text for Eikon: Further company coverage: (Stockholm Newsroom)
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