Ericsson Posts Decline In Q4 Profit

reported a drop in its net profit for the fourth quarter. Ericsson posted a quarterly net profit of 4.22 billion Swedish kronor ($508 million), or 1.29 kronor per share, versus a year-ago net profit of 6.41 billion kroner. Analysts were expecting a profit of 1.39 kronor per share. The year-ago profit included a one-time gain of 3.3 billion kronor. Its net sales rose 1% to 67.99 billion kronor from 67.03 billion kronor. Ericsson shares rose 0.81% to close at $12.42 yesterday.