Lucent Posts revenues of $2.05 billion, Down 12% YoY

Lucent Technologies reported revenues of $2.05 billion for its first quarter of fiscal 2006, a decrease of 16 percent sequentially and a decrease of 12 percent from the year-ago quarter. For the quarter, Lucent reported a net loss of $104 million, or 2 cents per share. These results compare with net income of $372 million, or 7 cents per diluted share, in the fourth quarter of fiscal 2005, and net income of $174 million, or 4 cents per diluted share, in the year-ago quarter.



Gross margin for the first quarter of fiscal 2006 was 42 percent of revenues as compared with 46 percent in the fourth quarter of fiscal 2005 and 42 percent in the year-ago quarter.



On a sequential basis, revenues in the United States decreased 11 percent to $1.3 billion, and revenues outside the United States decreased 23 percent to $704 million. Compared with the year-ago quarter, U.S. revenues decreased by 7 percent and revenues outside the United States decreased by 20 percent.



"This quarter, despite the decline in revenue, we maintained a solid gross margin performance due to our continued focus on simplifying our operations and diligently managing our cost structure," said Lucent Technologies Chairman and CEO Patricia Russo. "Based on the review of our expectations for fiscal 2006 and ongoing interactions with our customers, we are confident that our revenue performance will be much stronger for the remainder of the year."



"As we previously stated, we now expect Lucent's annual revenues for fiscal 2006 to be essentially flat or increase on a percentage basis in the low-single digits for the year," said Lucent Technologies Chief Operating and Financial Officer Frank D'Amelio. "http://www.lucent.com