UPDATE: KPN Reports 63% Decline In Q4 Profit, Lowers 2012 Forecast

Royal KPN NV KKPNY posted a 63% decline in its Q4 profit and lowered its 2012 forecast. KPN's net profit dropped to EUR176 million, versus EUR475 million, in the year-ago period. Its sales declined to EUR3.38 billion from EUR3.39 billion. However, earnings before interest, taxes, depreciation and amortization fell 3.2% to EUR1.32 billion KPN shares closed at $11.28 yesterday.