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

To: TechMkt who wrote (10674)	10/26/1999 7:39:00 AM
From: polarisnh	Read Replies (1) \| Respond to of 21876

Lucent Profits Surpass Expectations Again NEW YORK (Reuters) - Lucent Technologies Inc (NYSE:LU - news)., the world's largest telecommunications equipment maker, Tuesday posted a stronger-than-expected 50 percent increase in fourth-quarter profits, excluding one-time items, amid strong growth in sales of wireless, data and optical networking equipment. Murray Hill, N.J.-based Lucent said profits, excluding acquisition-related charges, rose to $972 million, or 31 cents a share, from $647 million, or 21 cents a share, a year earlier. Wall Street had expected the company to earn 29 cents a share, according to research firm First Call/Thomson Financial. Lucent has topped Wall Street expectations every quarter since it was spun off from AT&T Corp (NYSE:T - news). in 1996. Revenues for the fourth quarter, ended Sept. 30, rose 23 percent from a year earlier, to $10.575 billion. Fourth-quarter sales of equipment and services to phone companies and other network operators rose 32 percent, to $6.917 billion, while sales of communications equipment for businesses remained essentially unchanged from a year-ago at $2.471 billion. Microelectronics revenues increased 22 percent to $991 million, driven by sales of components and customized chips for high-speed communications, data networking and wireless systems. Lucent's international revenues grew 38 percent in the quarter. For the full fiscal year, international sales accounted for 32 percent of total sales, up from 23 percent when Lucent became an independent company. Including costs related to several acquisitions and other items, Lucent's fourth-quarter net income was $948 million, or 30 cents a share, compared with $220 million, or 7 cents a share, a year ago.