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Lucent Trims Its Way to Third Consecutive Profitable Quarter.
Byline: Martha McKay
Apr. 21--Cost-cutting helped Lucent Technologies post its third straight profitable quarter Tuesday amid signs of health in the telecommunications industry.
The Murray Hill-based maker of telecommunications equipment said revenue was down in the second quarter, but the business climate is improving and it expects to see revenue rise slightly for the year.
"We're seeing a more positive rhythm to our business," CEO Patricia Russo said in an interview after a morning conference call with analysts.
Lucent reported $68 million in net income, or 2 cents per share, in its second quarter.
That compares with a loss of $351 million, or 14 cents per share, which excluded the payment of preferred dividends, in the second quarter last year.
The company posted revenue of $2.19 billion, down about 9 percent, from $2.4 billion in the year-ago quarter. The company, which sells equipment to run voice and data networks used by wireless and land-line telephone companies, said the drop was due mostly to a decline in sales of wireless equipment, although it pointed out that the second quarter of 2003 was especially strong in wireless sales.
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