Sunday, July 24, 2005

Avaya's Income Increases to $76 Million From $52 Million Sequentially

Avaya's quarterly revenue increased 21.7 percent to $1.236 billion compared to the same period last year. On a sequential basis, revenue increased 1%. Avaya reported income from continuing operations of $194 million or 40 cents per diluted share. These results include the net favorable impact of $123 million related to the settlement of certain tax matters and other deferred tax adjustments. Excluding these items, earnings per diluted share would have been 14 cents.

Avaya also retired substantially all its debt in the quarter.

Sequentially, product sales rose 4%, services revenues were essentially flat, and rental and managed services were down about $8 million.

In the U.S. , sales rose 4% sequentially, with IP line shipments rising 30%. While international revenues fell 3% sequentially, on a constant currency basis international revenues were essentially flat.

See also