Lucent Technologies reported Q2 revenues of $1.96 billion, down 18% compared to the previous quarter and down from $2.95 billion in revenues in the year-ago quarter. The net loss for the quarter was $254 million or $0.07 per share. The loss included charges associated with an impairment of goodwill related to certain multiservice switching products and the revaluation of warrants that are expected to be issued as part of Lucent’s global settlement of shareowner litigation. Lucent cited a decline in revenues for its Mobility business but said it continued to make progress on its improving its bottom line.
- Gross margins were 29% of revenues, compared to 32% in the previous quarter.
Revenues in the U.S. were $1.2 billion, a decrease of 17% compared to the previous quarter and down 41% compared to the same period last year.
International revenues were $763 million, a decrease of 20% compared to the previous quarter and down 15% compared to the same period last year.
Revenues for Integrated Network Solutions (INS) were $1.06 billion, an increase of 2% sequentially and a decrease of 22% compared with the year-ago quarter.
Revenues for Mobility Solutions were $826 million, a decrease of 36% sequentially and a decrease of 45% compared with the year-ago quarter.
Lucent now expects a return to profitability in 2004 instead of later this year. The company does not provide forward-looking quarterly revenue guidance.
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