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Avaya lowers Q1 2002 outlook

Basking Ridge, N.J.-based Avaya announced that it would post a fiscal first-quarter loss. The communications equipment maker, a spin-off of Lucent Technologies, expects to post revenues of about $1.3 billion and a net operating loss of 8 cents to 10 cents per share from ongoing operations, which includes an accounting change related to goodwill amortization.

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The company cited no reason for the forecast.

Avaya also named Donald K. Peterson chairman and CEO. Previously, Peterson was vice chairman, CEO and president for Avaya. In addition, Patricia Russo, recently named president and CEO of Lucent Technologies, will resign from Avaya’s board and as Avaya’s non-executive chairman. Both announcements will take effect Jan. 15.

--Amalia D. Parthenios

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© 2012 Penton Media Inc.

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