LU Earnings:
Thursday October 22, 7:29 am Eastern Time
Lucent Technologies Q4 profits rise
MURRAY HILL, N.J., Oct 22 (Reuters) -
LUCENT TECHNOLOGIES INC.
Fourth Fiscal Quarter Income Statement
(Unaudited; Millions of Dollars, except per share amounts)
For Three Months Ended
9/30/98 9/30/98 (a) 9/30/97 (b)
Revenues 8,038 8,038 6,933
Costs 4,255 4,255 3,873
Gross Margin 3,783 3,783 3,060
Selling, General and
Administrative 1,828 1,828 1,608
Research and Development 1,137 973 835
Total Operating Expenses 2,965 2,801 2,443
Operating Income 818 982 617
Other Income (Expense), net(40) (40) 51
Interest expense 86 86 72
Income before income taxes 692 856 596
Income tax expense 304 308 227
Net Income 388 548 369
Earnings per share - Basic 0.30 0.42 0.29
Earnings per share- Diluted 0.29 0.41 0.28
Effective tax rate (%) 43.9% 36.0% 38.1%
NOTE: Lucent Q4 First Call estimate $0.39 a share.
(a) Excludes one-time, pre-tax charges of $164 million
($160 million after-tax) for in-process research and
development related to the acquisitions of SDX, MassMedia,
LANNET, and JNA.
(b) Excludes one-time, after-tax charges of $966 million
related to the acquisition of Octel.
Fiscal Year 1998 Income Statement
(Unaudited; Millions of Dollars, except per share amounts)
For Twelve Months Ended
9/30/98 9/30/98 (a) 9/30/97 (b)
Revenues 30,147 30,147 26,360
Costs 16,156 16,156 14,890
Gross Margin 13,991 13,991 11,470
Selling, General and
Administrative 6,436 6,436 5,758
Research and Development 5,094 3,678 3,102
Total Operating Expenses 11,530 10,114 8,860
Operating Income 2,461 3,877 2,610
Other Income, net 163 14 141
Interest expense 318 318 305
Income before income taxes 2,306 3,573 2,446
Income tax expense 1,336 1,286 939
Net Income 970 2,287 1,507
Earnings per share - Basic 0.74 1.75 1.18
Earnings per share- Diluted 0.73 1.72 1.17
Effective tax rate (%) 57.9% 36.0% 38.4%
(a) Excludes one-time, after-tax charges of $1.412 billion
for in-process research and development related to the
acquisitions of Livingston, Prominet, Yurie, Optimay, SDX,
MassMedia, LANNET, and JNA, and $149 million pre-tax ($95
million after-tax) gain on the sale of ATS.
(b) Excludes one-time, after-tax charges of $966 million
related to the acquisition of Octel.
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