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

To: William Richard who wrote (7495)	4/22/1999 7:39:00 AM
From: Kent Rattey	Read Replies (1) \| Respond to of 21876

Thursday April 22, 7:18 am Eastern Time Lucent Q2 net rises, beats estimates MURRAY HILL, N.J., April 22 (Reuters) - LUCENT TECHNOLOGIES INC. Second Quarter Income Statement (Unaudited; millions of dollars, except per share amounts) For the Three Months Ended 3/31/99 3/31/99(a) 3/31/98(b) Change(c) Revenues 8,220 8,220 6,184 32.9% Costs 4,327 4,327 3,436 25.9% Gross Margin 3,893 3,893 2,748 41.7% Selling, General and Administrative 1,902 1,902 1,501 26.7% Research and Development 1,157 1,139 932 22.2% Total Operating Expenses 3,059 3,041 2,433 25.0% Operating Income 834 852 315 170.5% Other Income (expense), net (65) (65) 31 nm Interest expense 95 95 58 63.8% Income before income taxes 674 692 288 140.3% Income tax expense 232 235 102 130.4% Net Income 442 457 186 145.7% Earnings per share - Basic 0.17 0.17 0.07 142.9% Earnings per share - Diluted 0.16 0.17 0.07 142.9% Effective tax rate (%) 34.4 34.0 35.4 (1.4) pts. (a) Excludes a one-time, after-tax charge of $15 million for purchased in-process research and development related to the acquisitions of WaveAccess, Sybarus and Enable Semiconductor's Ethernet LAN business. (b) Excludes a one-time, after-tax charge of $157 million for purchased in-process research and development related to the acquisition of Prominet Corp. (c) Change between the three-month period ended 3/31/99, excluding a one-time charge related to the acquisitions of WaveAccess, Sybarus and Enable Semiconductor's Ethernet LAN business, and the three-month period ending 03/31/98, excluding a one-time charge related to the acquisition of Prominet. (d) For the six months ended March 31, 1999, results exclude the in-process research and development charges associated with the acquisitions of Quadritek, WaveAccess, Sybarus and Enable Semiconductor's Ethernet LAN business as well as the cumulative effect of accounting change related to pension and postretirement benefits. For the six months ended March 31, 1998, results exclude the in-process research and development charges associated with the acquisitions of Livingston and Prominet as well as the gain on the sale of the Advanced Technology Systems (ATS) business. nm - not Meaningful NOTE: First Call EPS Estimate $0.15. For the fiscal second quarter, including a one-time, after-tax charge of $15 million (or 1 cent a share) associated with the acquisitions of WaveAccess, Sybarus and the Ethernet LAN business of Enable Semiconductor, the company reported net income of $442 million or 16 cents a share. In the year-ago quarter, the company reported net income of $29 million or 1 cent a share, including a $157 million one-time, after-tax charge associated with the acquisition of Prominet.