Lucent Warns of 18% Drop in Revenues

Lucent Technologies expects revenues for Q3 2003 to decline 18% from the $2.4 billion in sales reported in the previous quarter. Lucent blamed nearly all of the drop in sales on its Mobility business, which experienced "reduced spending in North America and an unexpected network acceptance delay." The company expects a net loss of six to eight cents per share in Q3, and anticipates continued uncertainty in the market, particularly in Mobility. Lucent will report final results on 23-July-2003.
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