Lucent Technologies reported its first profitable quarter since March 2000, posting revenues of $2.03 billion and net income of $99 million or 2 cents per share. Revenues increased 3% from the prior quarter. Gross margin for the quarter was 43% of revenues as compared with 29% in the prior quarter. Lucent said it expects to sustain a margin rate of about 35% in 2004.
Lucent Chairman and CEO Patricia Russo said the company has essentially completed its restructuring initiatives, reduced its total expenses by about $5.6 billion year over year, and implemented plans to broaden its revenue base. She also stated “We are seeing signs of stability in the overall telecom market, with pockets of opportunity in areas like services, metro optical, voice over IP, broadband access and high-speed wireless data.”http://www.lucent.com
