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Technology Stocks : Lucent Technologies (LU)

LU 2.415

+1.9%

3:59 PM EST

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To: surfinSteve who wrote (4624)	10/9/1998 10:08:00 AM
From: Don Dorsey	Read Replies (1) of 21876

Lucent <LU.N> comfortable with fy sales consensus NEW YORK, Oct 9 (Reuters) - Lucent Technologies <LU.N> is comfortable with analysts' estimates of $30 billion in sales for fiscal 1998, its chairman and chief executive said on CNBC Friday. "We are not uncomfortable with analysts estimates of $30 billion in sales which give us about a 20 percent growth for the year ending September 30," Richard McGinn, chairman and CEO, in an interview on CNBC. "We are experiencing strong growth on our bottom line," McGinn said. "Our business remains robust in the U.S. and around the world." When asked about future acquisitions, McGinn said he expects to continue to invest organically and acquire firms. McGinn said Lucent has acquired 10 companies in the last 30 months. "We don't have a strategy for acquisitions; what we have is is a business strategy," McGinn said. "If it makes sense for us to do it strategically and financially we will continue to acquire companies to enhance our position."

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