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Strategies & Market Trends : Making Money is Main Objective
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To: Softechie who started this subject1/16/2001 5:09:46 PM
From: Softechie   of 2155
 
Anixter to return $200 mln in inventory to Lucent

--------------------------------------------------------------------------------


SKOKIE, Ill., Jan 16 (Reuters) - Communication products
distributor Anixter International Inc. said on Tuesday
it agreed to return more than $200 million of products to
telecommunications equipment firm Lucent Technologies Inc.
.
Anixter said the return of the goods to Lucent will affect
the level of revenues reported in the fourth quarter but is not
likely to affect anticipated profits for the period.
The company continues to expect 50 cents to 53 cents a
diluted share in the fourth quarter excluding a one-time charge
of about 12 cents a diluted share related to the launch of an
accounts receivable securitization program.
Lucent had said last month that it would take back certain
equipment that had not been used or sold to customers due to
changes in its business strategy and the weakening emerging
service provider market.


REUTERS
Rtr 08:54 01-16-01
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