Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Lucent Technologies (LU) -- Ignore unavailable to you. Want to Upgrade?

To: Perry Ganz who wrote (10672)	10/26/1999 7:22:00 AM
From: DanielleC	Read Replies (1) \| Respond to of 21876

GREAT NEWS!!!! We soar today!!!!!

To: Perry Ganz who wrote (10672)	10/26/1999 7:23:00 AM
From: TechMkt	Read Replies (1) \| Respond to of 21876

Now let's get back to the high 60's. Fez ____________________ Tuesday October 26, 6:30 am Eastern Time Company Press Release SOURCE: Lucent Technologies Lucent Technologies Revenues Increase 23 Percent To a Record $10.575 Billion in Fourth Fiscal Quarter - Net Income Up 50 Percent in the Quarter, Excluding One-Time Events - Revenues for Fiscal 1999 Exceed $38 Billion MURRAY HILL, N.J., Oct. 26 /PRNewswire/ -- Lucent Technologies (NYSE: LU - news) today announced that revenues for its fourth fiscal quarter ended September 30, 1999 increased 23 percent to a record $10.575 billion. Revenues in the fiscal 1998 period were $8.574 billion. Net income increased 50 percent over the year-ago quarter to $972 million or 31 cents a share, excluding one-time events (See Note a).(a) Net income for the year-ago quarter was $647 million or 21 cents a share, excluding one-time events (See Note b). For the fiscal year ended September 30, 1999, revenues increased 20 percent to $38.303 billion. This compares with revenues of $31.806 billion in fiscal 1998. Net income rose 46 percent to $3.833 billion or $1.22 a share for the fiscal year, excluding one-time events (see Note a - 12 mo. table). This compares with net income of $2.619 billion or 86 cents a share for fiscal 1998, excluding one-time events (see Note b - 12 mo. table). ``Lucent enters the new millennium with momentum,' said Richard McGinn, Lucent Technologies chairman and chief executive officer. ``This was the strongest quarter and the strongest year in Lucent's history. We delivered on and exceeded our commitment to grow the top-line by 19 to 20 percent and earnings per share by 35 percent, excluding one-time events. ``Our ability to provide customers with the systems, software, silicon and services they need to build end-to-end next-generation networks continues to win Lucent new business and strengthen our relationships with existing customers,' said McGinn. In fiscal 1999, Lucent announced more than $11 billion in contract wins, including more than $2 billion in September alone. McGinn noted that Lucent's growth in the fourth quarter was again driven by the company's focus on hot growth areas like optical networking, wireless networking, data networking and professional services. The company's microelectronics business also continued its strong growth, with revenues of nearly $1 billion in the quarter. ``Communications systems are replacing PCs as a driver of the semiconductor industry,' said McGinn, ``and Lucent is a leader in this chip technology.' Lucent's revenues outside the U.S. grew 38 percent in the quarter and 47 percent for the fiscal year. In fiscal 1999, Lucent's revenues outside the U.S. accounted for 32 percent of sales, up from 23 percent when Lucent became an independent company. ``I'm very encouraged by our continued progress in growing Lucent's customer base outside the U.S.,' said McGinn. Lucent announced more than 60 contracts outside the U.S. in fiscal 1999. Results Including One-Time Events - Three Months and Twelve Months Including a $274 million pre-tax ($167 million, after-tax) gain on the sale of an investment in Juniper Networks and $258 million in pre-tax ($191 million, after-tax) one-time costs associated with Ascend, Livingston and Nexabit (See Note a), the company reported net income of $948 million, or 30 cents a share for the quarter. In the year ago quarter, the company reported net income of $220 million, or 7 cents a share, including one-time events (See Note b). Results for both the 1999 and 1998 quarters include reversals of business restructuring charges of $54 million, pre-tax ($36 million, after-tax) and $17 million pre-tax ($11 million, after-tax), respectively. For the twelve months ended September 30, 1999, including one-time events (see Note a - 12 mo. table), the company reported net income of $4.766 billion or $1.52 a share versus net income of $1.035, or 34 cents a share in fiscal 1998, also including one-time events (see Note b - 12 mo. table). Twelve-month results for fiscal 1999 and 1998 include reversals of business restructuring reserves of $141 million pre-tax ($93 million, after-tax) and $118 million pre-tax ($76 million, after-tax) - including an $18 million, pre-tax reversal of merger-related costs by Ascend - respectively.