Ericsson reported an adjusted fourth-quarter profit after financials of Skr5.50 billion, (€598.2 million) on reduced costs steming from the company's extensive restructuring programme.
The result, which excludes Skr3.90 billion in restructuring costs, was well above average market expectations of Skr2.414 billion, according to a survey of analysts by SME Direct. The company had an adjusted loss of Skr2.10 billion in the same period a year earlier
The company said it believes the market has stabilised and that the network market in 2004 will be in line with, or show slight growth compared with 2003, measured in dollars.
This compares with its previous expectation that the network market in 2004 will be in line with 2003.
The company also said it expects first-quarter sales to show a sequential decline due to seasonality, but to show moderate growth year on year.
"However we are monitoring the sustainability of this growth trend as some part could be operators catching up on last year's limited investments," said Ericsson.
The adjusted figure excludes Skr3.90 billion in restructuring costs, and Skr180 million in positive items attached to the capitalisation of development expenses.