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

To: Mark Palmberg who wrote (5679)	1/21/1999 10:19:00 AM
From: William Hunt	Respond to of 21876

MARK---From the same WSJ that talk about the pension issue ---they just posted this and even threw in the towel that LU had a great qtr ! Lucent Reports Leap in Earnings On Pension Changes, Strong Sales Dow Jones Newswires Lucent Technologies Inc. posted a 140% surge in its fiscal first-quarter earnings thanks to an accounting change related to its pension and post-retirement plans. But even excluding items, Lucent easily exceeded earnings estimates and revenue rose 5.7%. The Murray Hill, N.J., telecom-equipment giant earned $2.71 billion, or $2 a diluted share, in the first quarter ended Dec. 31, compared with $1.12 billion, or 86 cents a share, a year ago. The recent figures include a gain of $1.31 billion, or 96 cents a share, related to the accounting change and a charge of $14 million related to an acquisition. Excluding items, Lucent earned $1.41 billion, or $1.05 a diluted share. For the previous year, earnings without items was $792 million, or 61 cents a share. The latest results beat the estimate of analysts surveyed by First Call by four cents. Revenue climbed to $9.2 billion from $8.7 billion a year ago. Lucent, the former gear arm of AT&T Corp., said first-quarter revenue from systems for network operators rose 3% to $6.12 billion on strong sales of switching systems. Revenue from business communications systems edged up 2% to $1.98 billion. The company cited strong sales of Definity enterprise communication servers, messaging systems and enterprise data networking systems. Microelectronic products brought in 6% more revenue, to $821 million, following healthy sales of chips for high-speed communications, mass storage and data networking. Sales of optoelectronic components also increased significantly, Lucent said. BEST WISHES BILL PS. Odd That this is posted after LU is down six points on the front page of the interactive journal ?