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| Lucent Technologies updates revenue guidance Lucent Technologies today announced that while it had previously anticipated annual revenues for fiscal 2006 to increase on a percentage basis in the mid-single digits, it now expects annual revenues to be essentially flat or increase in the low-single digits for the year. Lucent said it expects revenues for the first quarter of fiscal 2006, which ended Dec. 31, 2005, to be about $2.05 billion, subject to the completion of its quarterly closing process, as compared with $2.43 billion for the prior quarter, which ended Sept. 30, 2005. The sequential decline is primarily driven by lower sales in the United States and China. The company also said it expects revenues in the second half of the fiscal year to be significantly higher than the first half of the year. "As a result of the first-quarter performance and a review of our expectations for the remainder of the year, we believe it is prudent to change our full-year revenue guidance at this time, " said Lucent Technologies Chairman and CEO Patricia Russo. "While we are clearly disappointed, we consider this to be a temporary setback to the progress we have made, and we are confident that our performance will be much stronger for the remainder of the year. "Our customers continue investing in the next generation of networks that will be based on IMS, and despite this quarter's results, we continue to see opportunities in the market that align with our strengths and investments in IMS, 3G mobile, services, next-gen optical and access. As always, we will continue to look at ways to profitably grow the top line, broaden our customer base and improve our cost structure, " said Russo. In a separate news release today, Russo also announced that Lucent Chief Financial Officer Frank D'Amelio, 48, has been appointed the company's chief operating officer (COO). As COO, D'Amelio will work with Russo and will be responsible for leading the operations of the business including sales, the product groups, the services business, the supply chain, IT operations and labor relations. D'Amelio will continue in his role as chief financial officer until a successor is named. The company will provide more details on its financials when it announces its quarterly results on Tuesday, Jan. 24. Investors and others are invited to listen to the quarterly conference call, which will be broadcast live over the Internet on Tuesday, Jan. 24, at 8:30 a.m. Eastern Time (ET). The call will be available for replay on Lucent's Web site through Jan. 31, athttp://www.lucent.com/investor/. write your comments about the article :: © 2006 Networking News :: home page |