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Strategies & Market Trends : Sharck Soup -- Ignore unavailable to you. Want to Upgrade?

To: Sharck who wrote (18053)	4/24/2001 7:18:29 AM
From: Wes Stevens	Respond to of 37746

JDS reports, warns, restructures --6:46am - By Greg Morcroft Fiber optic industry leader JDS Uniphase (JDSU) reported fiscal third quarter net income of that met analysts' estimates, and announced a major restructuring that will include closing several plants and eliminating 5,000 jobs, or 20 percent of its workforce. The company reported fiscal third quarter pro-forma net income of $160 million or 14 cents per share, meeting the analyst estimate on sales of $920 million, compared to $108 million, or 11 cents per share on revenue of $485 million in the same quarter a year ago. The company said it will take a fourth quarter charge of $375 million to $425 million for severance and restructuring and the result will be cost savings going forward of $25 million. The company also said it expects fourth quarter pro forma earnings per share will be 5 cents, on revenue of about $700 million. The consensus analyst estimate for JDS's fourth quarter earnings is 12 cents. Lucent Tech. reports Q2 losses --6:36am - By Tomi Kilgore Lucent Technologies (LU) reported fiscal second-quarter operating losses of 37 cents per share, compared to a profit of 16 cents in the year-earlier period. Excluding the impact of Winstar and certain equity investment writedowns, Lucent lost 22 cents per share. Analysts surveyed by First Call/Thomson Financial had been expecting losses of 23 cents per share, on average. Revenue for the period declined 17 percent from last year to $5.9 billion. On a sequential basis, losses improved 5 percent and revenue increased 36 percent. The provider of communications network services added that charges stemming from its previously announced "comprehensive" restructuring plan reached $2.7 billion. The shares closed down 31 cents at $9.20.