Lucent Technologies reported revenues of $2.19 billion for its third quarter of fiscal 2004, essentially flat sequentially and an increase of 11% from the year-ago quarter. The company recorded revenues of $2.19 billion in the second quarter of fiscal 2004 and recorded $1.96 billion in the year-ago quarter. Lucent reported net income of $387 million or 8 cents per diluted share, including several one time items that had a positive impact of about 4 cents per diluted share.
Some highlights for the quarter:
- On a sequential basis, revenues in the United States increased 7% to $1.4 billion, and revenues outside the United States decreased 10% to $785 million. Compared with the year-ago quarter, U.S. revenues and revenues outside the United States increased by 17% and 3%, respectively.
- Integrated Network Solutions (INS) revenues for the third quarter of fiscal 2004 were $715 million, a decrease of 3% sequentially and 12% compared with the year-ago quarter.
- Mobility Solutions revenues for the third quarter of fiscal 2004 were $986 million, an increase of 4% sequentially and 58% compared with the year-ago quarter.
- Overall gross margin for the quarter was 43% of revenues, which was the same as the gross margin rate for the second quarter of fiscal 2004.
- Operating expenses for the third quarter of fiscal 2004 were $598 million as compared with $623 million for the second quarter of fiscal 2004.
- As of June 30, 2004, Lucent had about $4.7 billion in cash and marketable securities, which represents an increase of more than $100 million from the previous quarter.
- Going forward, Lucent expects its annual revenues to increase on a%age basis in the mid-single digits for the 2004 fiscal year.