Mobility drags Lucent guidance down
Lucent Technologies expects revenue for the third quarter of fiscal 2003 to sink 18% from the $2.4 billion it earned in the second quarter, the company announced today. A statement issued today blames the decline on missed revenues in the mobility business.
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“In the third quarter, our mobility revenues were unfavorably impacted by some reduced spending in North America and an unexpected network acceptance delay,” Lucent CFO Frank D’Amelio said in a statement this afternoon. “These two items accounted for virtually all of the decline.”
Lucent now expects to achieve profitability in its 2004 fiscal year. It anticipates a loss for the third fiscal quarter of approximately 6 to 8 cents per share.--Ed Gubbins
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© 2012 Penton Media Inc.
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