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Technology Stocks : Lucent Technologies (LU)
LU 2.630+1.2%Jan 16 9:30 AM EST
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To: sylvester80 who wrote (19188)3/12/2002 7:46:53 AM
From: elmatador  Read Replies (1) of 21876
 
Lucent falls after Q2 revenue warning (LU) By Tomi Kilgore
Lucent Technologies (LU) fell 40 cents, or 6.4 percent, to $5.86 in pre-open trading after saying its fiscal second quarter loss will meet expectations, but warned that revenue would fall short as service providers continue to reduce or defer spending.

The telecommunications equipment company added that its return to profitability and positive cash flow will likely be pushed back to fiscal 2003. Lucent said revenue for the quarter ending March is now expected to show "modest-to-10-percent" growth over the sequential first quarter, versus previous forecasts of a 10-to-15 percent improvement. Losses are still anticipated to be sequentially narrower.

Analysts surveyed by Multex are currently expecting revenue of $3.81 billion and losses of 14 cents a share for the current quarter, compared with revenue of $3.47 billion and losses of 23 cents a share in the previous quarter. The company added that it has "sufficient liquidity" to fund operations and currently has not outstanding balance on its credit facility. However, it will continue to consider opportunities to raise capital, and may pursue a financing transaction, likely a convertible offering, as market conditions permit.
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