It’s been a turbulent few years for networking communications vendor Avaya Inc. and, while it did manage to cut its loss significantly for fiscal 2012, it still finished in the red.
Avaya reported this week that it lost US$344 million for fiscal 2012 on revenue of US$5.17 billion, which is improved from its loss of US$863 million for fiscal 2011. Product and services revenue were both down, and executives cited the economy and a drop in demand for older Nortel products. Savings came from a 1,600 person reduction in head count, office consolidation and outsourcing non-critical functions.
According to a report from IT World Canada, Avaya executives expect a stronger 2013.
CLICK HERE TO READ: Avaya does better but still in red
