Lucent Posts First-Quarter Loss

Printer-friendly version Email this CRN article

Telecommunications equipment giant Lucent Technologies Inc. Tuesday posted a fiscal first-quarter operating loss amid a severe telecom spending slump, and said second-quarter revenues would grow 10 percent to 15 percent.

The Murray Hill, N.J.-based company reported an operating loss of $757 million, or a loss of 23 cents a share, compared with a loss of $1.437 billion, or a loss of 42 cents a share, in the same period last year.

Analysts had expected Lucent, the world's largest maker of telecom gear, to lose 24 cents, with a range of losses of 23 cents to 26 cents, according to market research firm Thomson Financial/First Call.

Revenues from ongoing operations fell to $3.47 billion from $3.8 billion last year. Its fourth-quarter revenues were $4.8 billion.

Lucent said last month that its first-quarter loss would be larger than Wall Street then expected because of the prolonged spending slowdown. It said its loss from continuing operations would be between 23 cents and 26 cents on revenues ranging between $3.1 billion and $3.4 billion.

Copyright 2000 Reuters Limited. All rights reserved.

Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters.

Reuters shall be not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Printer-friendly version Email this CRN article