Alcatel-Lucent, S.A. (ALU) Q4 2011 Earnings Call February 10, 2012 7:00 am ET Executives Ben Verwaayen - Chief Executive Officer, Director and Member of Management Committee Paul J. Tufano - Chief Financial Officer, Executive Vice President and Member of Management Committee Unknown Executive - Analysts Sebastien Sztabowicz - Kepler Capital Markets, Research Division Achal Sultania Kai Korschelt - Deutsche Bank AG, Research Division Vincent Maulay - Oddo Securities, Research Division Zahid S. Hussein - Citigroup Inc, Research Division Francois Meunier - Morgan Stanley, Research Division Anuj Krishan - UBS Investment Bank, Research Division Simon M. Leopold - Morgan Keegan & Company, Inc., Research Division Alexander Peterc - Exane BNP Paribas, Research Division Odon de Laporte - CA Cheuvreux, Research Division Eric Beaudet - Natixis S.A., Research Division PresentationBen Verwaayen
So good morning, good afternoon, good evening, depending on where you are. Thank you for joining us at the full year results and Q4 results 2011. As always, we have here an interesting slide for you to read. I encourage you to do so because a lot of people work very hard to get this right. 2011. What can I say about 2011 other than that I think it has been a year in which we have delivered on many different levels? First of all, after the disappointment of Q3, I think we have delivered a Q4 that was what we said it would and then some. If you look to the most important elements of the year as such, is that we have doubled our profits between 2010 and 2011, we have made significant improvements on our operational capabilities, on our portfolio, and I think we have made very good progress on our cash flow, thanks to a very good performance in Q4.