Lucent Technologies reported revenue of $2.05 billion for its third quarter of fiscal 2006, which ended June 30, 2006, a decrease of 4 percent sequentially and a decrease of 12 percent from the year-ago quarter. Net income (GAAP) was $79 million, or 2 cents per diluted share, which is consistent with the preliminary results announced on July 10, 2006. These results compare with net income of $181 million, or 4 cents per diluted share, in the second quarter of fiscal 2006, and net income of $372 million, or 7 cents per diluted share, in the year-ago quarter.
“Our results this quarter reflect an impending shift in spending as some of our North American customers begin to move from current-generation to next-generation mobile high-speed data solutions. While these results were clearly disappointing, we do not believe these results are indicative of the longer-term opportunities we see in the global mobility market. CDMA continues to represent a large, sustainable market, and we see significant growth in the UMTS market as our customers enable their networks to deliver the exciting new applications their customers are demanding,” said Lucent Technologies Chairman and CEO Patricia Russo.
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