Lucent expects revenues to drop

Lucent Technologies Inc. announced Friday it is projecting a drastic drop in fourth fiscal quarter revenues compared to its third quarter.

The Murray Hill, N.J.-based communications equipment maker blamed uncertain customer spending levels and continuing market softness in North America for the revenue shortfall. Lucent recorded revenues of US$2.9 billion in its third fiscal quarter, but expects fourth quarter revenues to drop by 20 to 25 per cent.

Lucent said it expects a loss per share of approximately US$0.45, because of the drop in revenue and customer financing default this month.

The company is developing a plan to reduce its quarterly earnings per share break even revenue to a range of US$2.5 billion to US$3 billion. This action should help the bottom line as it continues to work toward a return to profitability for the end of fiscal 2003, the company said.

Lucent can be found at http://www.lucent.com.

Would you recommend this article?

Share

Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.


Jim Love, Chief Content Officer, IT World Canada

Featured Download

IT World Canada Staff
IT World Canada Staffhttp://www.itworldcanada.com/
The online resource for Canadian Information Technology professionals.

Featured Articles

Cybersecurity in 2024: Priorities and challenges for Canadian organizations 

By Derek Manky As predictions for 2024 point to the continued expansion...

Survey shows generative AI is a top priority for Canadian corporate leaders.

Leaders are devoting significant budget to generative AI for 2024 Canadian corporate...

Related Tech News

Tech Jobs

Our experienced team of journalists and bloggers bring you engaging in-depth interviews, videos and content targeted to IT professionals and line-of-business executives.

Tech Companies Hiring Right Now