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Technology Stocks : TranSwitch Corp: Will they get Zenith Business? -- Ignore unavailable to you. Want to Upgrade?

To: ELH1006 who wrote (630)	6/8/2002 12:02:52 PM
From: riposte	Respond to of 669

...BS... Wow, Eddie - please tell me how you really feel! LOL! As if I care whether you "buy" what I'm saying or not! Have a great weekend, Steve

To: ELH1006 who wrote (630)	6/13/2002 9:54:04 AM
From: riposte	Read Replies (1) \| Respond to of 669

Lucent cuts third-quarter forecast Lucent cuts third-quarter forecast By Jeffry Bartash, CBS.MarketWatch.com Last Update: 8:35 AM ET June 13, 2002 MURRAY HILL, N.J. (CBS.MW) -- Lucent Technologies on Thursday warned that third-quarter sales will decline up to 15 percent, citing the continued slump in the communications industry. On Thursday, Lucent (LU: news, chart, profile) fell 25 cents, or 9 percent, to $2.70 in early action. The news also sent other equipment stocks lower. The phone-equipment maker declined to provide an earnings target "in light of market uncertainty." Lucent did say it expects a "modest sequential improvement" from a second-quarter "pro forma" loss of 20 cents a share. The pro forma figure - which excludes operations sold or terminated - includes a 6-cent charge. That pegged its actual loss from operations at 14 cents a share. Yet Lucent said it was unsure if its loss in the third quarter would end up lower than that. The company had been expected to lose 10 cents a share, according to the consensus of analysts surveyed by Thompson Financial/First Call. Revenue had been projected to reach $3.52 billion, the same as in the second quarter. Now sales are expected to end up 10 percent to 15 percent lower. Lucent is the latest telecom bellwether to warn of sluggish sales, indicating that the industry's severest slump in years shows no signs of abating. "Service providers continue to constrain their capital spending to conserve cash, which is clearly affecting our top line," Lucent Chief Executive Officer Patricia Russo said in a statement. The company said sales of equipment for the wireline market remained weakest. Earlier this year, Lucent said it would further cut costs so the company could break even with just $4 billion in quarterly sales. Previously, Lucent estimated it would need sales of $4.25 billion to break even. The company has posted sizable losses for eight straight quarters. Last year, Lucent posted a net loss of $16 billion. The steep losses have forced the company to negotiate new loans with lenders, slash costs, jettison valuable businesses and lay off thousand of workers. Whereas Lucent once planned to reduce its workforce to 56,000, it's now aiming to trim its headcount to 50,000 by the end of the fiscal year. Executive said they still plan on returning the company to profitability in fiscal 2003. Jeffry Bartash is a reporter for CBS.MarketWatch.com in Washington. cbs.marketwatch.com

To: ELH1006 who wrote (630)	6/13/2002 8:40:45 PM
From: riposte	Respond to of 669

Sprint Again Cuts Capital Spending Plans Sprint Again Cuts Capital Spending Plans By TSC Staff 06/13/2002 06:47 PM EDT Sprint said its earnings for the full year could come in ahead of expectations, but the company cut its capital spending plans for its long-distance telephone and wireless units. The company expects the Phone Group (FON:NYSE - news - commentary - research - analysis) to generate earnings before interest, taxes, depreciation and amortization of about $4.6 billion for the full year, while earnings should "approach $1.40." Analysts polled by First Call are looking for a profit of $1.34. Sprint said Phone Group revenue will likely decline at a mid-single digit rate compared with the previous expectation that the top line could decline at a low-single digit rate. In addition, Sprint again reduced its 2002 capital expenditure plans for the Phone Group, this time by $100 million, and now expects spending to total about $2.6 billion -- half the level of 2001. For the second quarter, Sprint expects the Phone Group to report earnings that are in line with current analysts' expectations of 33 cents a share. The company believes the PCS Group (PCS:NYSE - news - commentary - research - analysis) will add about 300,000 subscribers in the second quarter. PCS expects EBITDA of at least $800 million for the quarter and $3 billion for the full year. However, Sprint believes full-year net customer additions could be 10% to 15% below its previous forecast of 3 million. As a result, the PCS Group's capital expenditures will probably be around $3.3 billion, about $100 million less than the previous target. But thanks to the lower capital spending, Sprint's net cash requirements for 2002 have been reduced to $400 million from $600 million. Sprint will release its second-quarter earnings July 18. URL: thestreet.com

To: ELH1006 who wrote (630)	6/21/2002 10:21:47 AM
From: riposte	Respond to of 669

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