Alcatel

(ALA)

reiterated its earlier growth guidance for this year and 2001, despite mounting concerns about a slowdown in the telecommunications sector.

According to a report, the French telecom equipment maker backed those earlier estimates, in which it indicated that sales in 2000 should grow 35% to 40%. The report also said that the company continues to expect sales growth of 25% in 2001.

Alcatel's American depositary shares ended Big Board composite trading at $53.69, up 5.7%, or $2.88.