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?

0
0

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. Click this link to send me a note →

Jim Love, Chief Content Officer, IT World Canada
IT World Canada Staff
IT World Canada Staffhttp://www.itworldcanada.com/
The online resource for Canadian Information Technology professionals.

Related Tech News