Ericsson Q4 Net Profit Declines 65%

Ericsson AB ERIC reported a 65% drop in its net attributable profit for the fourth quarter. Ericsson's quarterly profit fell to 1.49 billion Swedish kronor ($221 million), from SKR4.32 billion, in the year-ago period. Its net sales gained 1% to SKR63.67 billion from SKR62.78 billion. Ericsson's gross margin declined to 30.2% from 36.6%. However, analysts were expecting a gross margin at 34.7%. Ericsson shares fell 2.25% to $10.00 in after-hours trading.