Shares of resurgent French-American communications company Alcatel-Lucent (UNKNOWN:ALU.DL) have been on quite the tear over the past year or so, rising more than 250%.

Rewind 12 months or so, and you'd find Alcatel-Lucent teetering on the edge of bankruptcy, as its cost structure simply wouldn't allow it to compete against some of its larger rivals in the ultra-competitive space. However, Alcatel-Lucent has since taken a number of decisive steps that have improved its position considerably.

For starters, Alcatel-Lucent arranged for a critical $2.1 billion in financing that was led by investment banks Credit Suisse and Goldman Sachs and helped it meet its short-term liquidity needs. Alcatel-Lucent also changed leadership and made some decisive strides to end unprofitable contracts and reduce overhead.

Is the stock still a buy? In this edition of our popular "Ask a Fool" series, tech and telecom analyst Andrew Tonner discusses whether he believes Alcatel-Lucent still looks like a buy today.

Fool contributor Andrew Tonner has no position in any stocks mentioned.  Follow Andrew and all his writing on Twitter at @AndrewTonnerThe Motley Fool recommends Goldman Sachs. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.