Lucent issues a warning on earnings; business is slipping in several key areas

Article Abstract:

Murray Hill, NJ-based Lucent Technologies has announced fiscal fourth-quarter earnings that fall far short of expectations. Last fiscal fourth-quarter the company's share earnings were 24 cents and this year only 17 to 18 cents. The company has revised its earnings estimates down three times this year. Analysts had expected 27 cents per-share earnings.

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Lucent posts big losses in quarter

Article Abstract:

Lucent Technologies lost $3.7 billion for its second quarter, and a 17% fall in revenue to $5.92 billion in the wake of layoffs of 10,000 full-time employees and 2,200 contractors. Lucent spent $2.2 billion in cash during the quarter from reserves. Semiconductor unit Agere Systems gave Lucent $2.5 billion from its public offering. Agere results were not included with Lucent's. Lucent plans to raise about $5 billion with the sale of its fiber optics division in Georgia and hopes to sell Ayaya Inc. as well. A smaller Lucent will focus more on large orders from large communications companies.

Semiconductors and related devices, Semiconductor Devices, Semiconductor and Related Device Manufacturing, Other Communications Equipment Manufacturing, Fiber Optics Systems & Equip, Communications equipment, not elsewhere classified, Semiconductor industry, Fiber optic networks, Fiber optics industry, Agere Systems Inc.

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Lucent reports $8.8 billion loss and a dim outlook

Article Abstract:

Lucent Technologies $8.8 billion fourth quarter loss, or $2.59 per share is a prelude to more bad news next year as the company has already lost $16 billion in 2001. $6.6 billion of Lucent's $8 billion restructuring charge was for inventory write-downs, pensions and failed investments. Sales fell to $5.2 billion, or 28%, the worst news for the company since it was spun off from AT&T. 77,000 workers were laid off this year. Some analysts are critical of Lucent's claim that it has enough cash to cover $2 billion in bank financing, up in February.

COMMUNICATION, Communications, Broadcasting and Telecommunications, Telecommunications services industry, Telecommunications industry, Contracts

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