LUCENT’S NET INCOME SOARS 41% TO $754 MILLION DUE TO WIRELESS, INTERNET, NETWORKING SERVICES
MURRAY HILL, N.J.
Lucent Technologies announces that its reported net income for its second fiscal quarter ended March 31 rose 41 percent to $754 million, or 23 cents per share. This compares with $535 million, or 17 cents per share, for the same period in the prior year. In addition, revenues increased 17 percent to $10.256 billion, compared to $8.783 in the same time frame in 1999.
“Lucent is regaining its momentum this quarter with strong growth in wireless, Internet infrastructure—including optical and data networking systems and optical fiber—professional services and optoelectronics,” says Richard McGinn, Lucent chairman and CEO. He notes revenues for both wireless and service provider Internet infrastructure increased by more than 50 percent. McGinn adds that he expects to see accelerating growth in optical networking based on strong contract momentum. Lucent announced more than $1 billion in new contracts for its optical networking products during the quarter.
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