Lucent Posts Mixed Numbers

Lucent ( LU) posted a mixed fourth quarter as a sales decline in its wireless business led to a slightly soft performance on the top line.

For its fourth quarter ended Sept. 30, the Murray Hill, N.J., telecom gearmaker made $374 million, or 8 cents a share, down from the year-ago $1.21 billion, or 23 cents a share. Sales rose to $2.43 billion from $2.4 billion a year earlier. Latest-quarter numbers were aided to the tune of 2 cents a share by an income tax benefit. Analysts surveyed by Thomson First Call had forecast a 5-cent profit on sales of $2.46 billion.

Revenue at Lucent's mobility business dropped 8% sequentially and 7% from a year ago to $1.07 billion. Integrated network revenue rose 25% sequentially and 6% from a year ago to $739 million, and worldwide services revenue rose 6% sequentially and 11% from a year ago to $572 million.

Gross margin for the fourth quarter was 46% of revenue, up from 45% in the third quarter and 41% in the year-ago quarter.

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