Tuesday, April 20, 2004
Lucent Technologies Inc., one of the world's largest makers of telecommunications equipment, posted its third consecutive quarterly profit and boosted its sales outlook for the year as spending showed signs of improving.
The Murray Hill, N.J.-based company reported net income of $68 million, or 2 cents a share, applicable to common shareholders for the second quarter ended March 31, compared with a year-earlier loss of $553 million, or 14 cents.
Excluding one-time items, Lucent earned about 3 cents a share. On that basis, analysts on average were expecting a profit of about 2 cents, according to Reuters Research.
Sales fell to $2.19 billion from $2.4 billion a year earlier and $2.26 billion in the previous quarter.
Lucent said it still expects to post a profit for the year and raised its top-line outlook, saying it sees sales rising in the low single digits on a percentage basis. Analysts were expecting Lucent to report a 2004 profit before one-time items of about 11 cents a share on sales of $8.85 billion, according to Reuters Research. Lucent had sales of $8.47 billion in fiscal 2003.
By: DocMemory
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