Lucent Technologies reported revenue of $2.34 billion for its second quarter of fiscal 2005, flat sequentially and an increase of 6 percent from the year-ago quarter. Net income was $282 million or 6 cents per diluted share. These results compare with net income of $174 million, or 4 cents per diluted share, in the first quarter of fiscal 2005 and net income of $68 million, or 2 cents per diluted share, in the year- ago quarter. The second quarter's earnings per share included a positive impact of about 2 cents per diluted share for the favorable resolution of certain income tax matters.
"This quarter, we continued to achieve profitable results and further demonstrated our strength in mobility, posting our highest quarterly revenues for wireless since fiscal 2002," said Lucent Technologies Chairman and CEO Patricia Russo. "We also continued to show strength in our services business, with close to half a billion dollars in revenues."
Some highlights for the quarter:
- Gross margin for the second quarter of fiscal 2005 was 42 percent of revenues as compared with 42 percent in the first quarter of fiscal 2005 and 43 percent in the year-ago quarter.
- Operating expenses for the second quarter of fiscal 2005 were $700 million as compared with $665 million for the first quarter of fiscal 2005 and $623 million for the year-ago quarter.
- As of March 31, 2005, Lucent had about $4.1 billion in cash and marketable securities, which represents a decrease of $458 million from the quarter ended Dec. 31, 2004. The decrease included the payment of the remaining $215 million to the shareowner settlement fund and $80 million for the repurchase of certain debt obligations.
- On a sequential basis, revenues in the United States and outside the United States were both essentially flat at $1.45 billion, and $886 million, respectively. Compared with the year-ago quarter, revenues in the United States increased 10 percent and revenues outside the United States increased 1 percent.
- Mobility revenues for the second quarter of fiscal 2005 were $1.20 billion, an increase of 4 percent sequentially and an increase of 24 percent compared with the year-ago quarter.
- Lucent Worldwide Services (LWS) revenues for the second quarter of fiscal 2005 were $499 million, a decrease of 4 percent sequentially and an increase of 4 percent compared with the year-ago quarter.
