Ericsson (Ericy)

[extelecom]

Ericsson CEO Repeats Outlook Co Will Return To Profit '03
Friday August 15, 4:00 am ET

STOCKHOLM -(Dow Jones)- Swedish telecommunications equipment maker Telefon AB LM confirmed Friday that it will return to profits this year."We have promised the market to show black figures some time this year. In principle we are already there and will definitely be profitable before the end of the year," Chief Executive Carl-Henric Svanberg told local media at breakfast meeting Wednesday in the Swedish town of Linkoeping.
An Ericsson spokeswoman confirmed his remarks Friday.
Ericsson posted a pretax loss of SEK14.5 billion in 2002, compared with a loss of SEK21.1 billion in 2001.
Company Web Site: www.ericsson.com
-By Maria Akerhielm, Dow Jones Newswires; [phone]; [e-mail]