Some of the items that called my attention:

- The submarine unit accounted for much of the losses, it was a non cash impairement charge tdue to reduction of Goodwill

"If I look at the P&L as a whole, the impact of ForEx, I won't delve into that, perhaps a word on OpEx at constant rates. OpEx are up 4% at actual rates, but actually down 6% at constant-exchange rates. And we have an overall net loss of €206 million and that reflects frankly only one item, which is a non-cash goodwill impairment charge we recorded during the quarter relating to our submarine activities.

To be a bit more granular, this charge is related only to the level of goodwill which we believe was too high. And we continue to see good growth prospects and ability of ASN to participate in the up cycle of the submarine cable business."

- Positive cash flow continues to improve

- Next Gen Products accounted for 77% of the Quarterly Revenue up from 66% on same quarter last year

- Six more wins in core routing, bringing customer count up to 50

- 15 New customers in network virtualization for a total of 30 customers

- Improved margins in China

- Inventories have been reduced by 20% yoY