Lucent Technologies reported quarterly revenues of $2.26 billion, an increase of 11% sequentially and 9% from the year-ago quarter. Lucent reported a profit for the quarter, with net income of $338 million or 7 cents per diluted share -- this represents the company's second sequential quarterly profit.
"We are clearly seeing evidence that the market is stabilizing," said Lucent Technologies Chairman and CEO Patricia Russo. "While we remain cautious, we are encouraged by the recent news we have seen from some of our customers."
Some highlights for the quarter:
- gross margin of 41% as compared to 43% in the prior quarter.
- operating expenses were $648 million as compared with $524 million in the preceding quarter
- as of Dec. 31, 2003, Lucent had $4.3 billion in cash and short-term investments, representing a decrease of $230 million in the quarter
- revenues in the U.S. increased 12% sequentially to $1.35 billion, and international revenues increased 11% to $909 million. Compared with the year-ago quarter, U.S. and international revenues increased by 4% and 16%, respectively.
- Integrated Network Solutions (INS) revenues were $790 million, a decrease of 8% sequentially and a decrease of 7% compared with the year-ago quarter.
- Mobility Solutions revenues were $960 million, an increase of 51% sequentially and an increase of 32% compared with the year-ago quarter. The revenue for the quarter includes about $150 million related to the resolution of a prior network acceptance delay on a significant Mobility project outside the U.S.
- Lucent Worldwide Services (LWS) revenues were $466 million, a decrease of 1% sequentially and a decrease of 4%t compared with the year-ago quarter.
