Nokia Corporation Reports Earnings Results for the Fourth Quarter and Full Year and Year Ended December 31, 2012; Provides Earnings Guidance for the First Quarter of 2013 and Full Year Ending December 31, 2013
For the year, the company reported net sales of 30,176 million against 38,659 million a year ago. Operating profit was 2,303 million against loss of 1,073 million a year ago. Operating profit (non-IFRS) was 126 million against loss of 1,825 million a year ago. LPS was 0.84 against 0.31 a year ago. LPS diluted (non-IFRS) was 0.17 against EPS of 0.29 a year ago. Net cash used in operating activities was 354 million against net cash generated from operating activities of 1,137 million a year ago.
The company provided earnings guidance for the first quarter of 2013 and full year of 2013. For the period, the company expects non-IFRS operating margin in the first quarter 2013 to be approximately negative 2%, plus or minus four percentage points.
The company continues to target to reduce its Devices & Services non-IFRS operating expenses to an annualized run rate of approximately 3.0 billion by the end of 2013.