Lucent Says Earnings More Than Triple
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Lucent Technologies Inc. (LU.N: Quote, Profile, Research) , among the world&#39;s largest makers of telecommunications equipment, on Wednesday said its fourth-quarter earnings
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Plus: Lucent's 1st profitable year since 2000...EMC issues sunny report...IBM net income inches higher, despite legal bill.
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Profits more than double but were restrained by futures contracts.
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Power company Constellation Energy Group Inc.  said on Wednesday fourth-quarter earnings more than doubled, helped by stronger-than-expected results from its merchant unit.
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Lucent Technologies Inc. more than doubled the total compensation of its top executive to &#36;13.6 million in 2004, a year in which the telecommunications-equipment maker posted its first profit in four years, according to a regulatory filing Thursday.
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Lehman Brothers Holdings Inc. LEH.N   on Wednesday said third-quarter earnings rose more than   analysts expected, as trading and investment management revenue   jumped.
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Lucent Technologies&#39; quarterly earnings rose sharply, helped by improvement in its wireless networks business and lower costs, the company said Wednesday.
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Lucent Technologies Inc. reported higher-than-expected fourth quarter sales on Wednesday, boosted in part by several large contracts, especially in its wireless segment, as well as increased demand for VOIP (voice over Internet Protocol), high-speed data and broadband access.
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IBM and the rest of the tech industry might have a better year than most onlookers expected. IBM's third-quarter earnings rose 15% from a year earlier, to &#36;1.17 a share, excluding a one-time &#36;320 million charge to settle a lawsuit over its pension plan. That beat analysts' average estimate by 3 cents a share.
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Alcatel-Lucent reported higher sales but a net loss for the fourth quarter due to a big writedown in its CDMA (code division multiple access) and IP (Internet protocol) multimedia services businesses.The company said revenue rose 18 percent to &#8364;5.2 billion on the back of strong performance at several of its major business units. But despite the stronger sales the company saw its net profit plunge into the red to the tune of &#8364;2.6 billion. This was largely due to the &#8364;2.5 billion writedown.Its wireline and wireless carrier business was strong and revenues were &#8364;3.7 billion in the quarter against &#8364;3.2 billion during the same period a year earlier. The company benefited from strong growth in carrier-type optical networking, and the GSM (Global System for Mobile Communications) and WCDMA (Wideband CDMA) sectors. Broadband access revenue fell on the back of a decline in the number of DSL lines delivered.Revenues were up 27 percent in the services business to &#8364;1 billion after the company won large network operations contracts and worked on IPTV and IP network integration projects. Its enterprise business segment saw revenues of &#8364;435 million, up about 4 percent, thanks to strong momentum in Europe and Asia.The report came with bad news for investors. The company suspended its dividend payment for 2007 &quot;in the light of these results and or a more uncertain market outlook,&quot; it said.&quot;We just thought very plainly that it was good financial discipline looking at both our net income in &#39;07 and the very tough macroeconomic environment,&quot; said Hubert de Pesquidoux, chief financial officer, on a conference call.CEO Patricia Russo warned that the company doesn&#39;t have a positive short-term outlook, particularly with a looming recession in the U.S. given Alcatel-Lucent&#39;s dependance on business there.&quot;There is a level of uncertainty ... that leaves a lot unknown,&quot; Russo said.Despite interest in IP networking and 3G broadband services, growth over the next year is likely to be flat or just slightly up, Russo said. Taking into account currency differences, the market will likely be down, she said.Some customers are also pursuing network-sharing arrangements, which could affect how much those companies spend on their own infrastructure, she said.Russo defended the&#160;2006 merger of Alcatel and Lucent&#160;and said the company is still trying to reduce costs. So far, about 6,700 employees have been let go in&#160;a restructuring plan&#160;that will shed a total of 12,500 employees, she said.
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Caterpillar Inc. CAT.N said on  Thursday quarterly earnings more than doubled on continued  strong demand for its heavy equipment.
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Navistar International Corp., the world&#39;s fourth-largest truckmaker, said profit in the fiscal third quarter more than tripled as truck sales rose and retirement and medical costs declined.
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(InfoWorld) - Alcatel-Lucent's revenue fell for the fourth quarter and the company plunged into loss. The performance was disappointing, but theÂ long-term prospects of the mergerÂ of Alcatel and Lucent Technologies remain positive, the company said. Fourth-quarter revenue dropped 16 percent year-on-year on a comparable basis, to â¬4.42 billion ($5.83 billion as of Dec. 31, the last day of the period reported) from â¬5.25 billion, while revenue for the full year fell to â¬18.25 billion from â¬18.57 billion. Although the merger was onlyÂ completed at the end of November, the company provided pro-forma figures as if the merger had taken place on Jan. 1, and restated earlier figures on a comparable basis. On that basis, the company made a net loss of â¬618 million in the fourth quarter, compared to a net profit of â¬381 million a year earlier. For the full year, net profit fell to â¬522 million, down from â¬1.67 billion on a comparable basis the previous year. The disappointing performance was due to uncertainty among customers and staff about the outcome of the merger, and to a highly competitive market in North America during the fourth quarter, the company said. As it proceeds with the integration of Alcatel and Lucent, the company expects to realize cost savings of â¬600 million this year, and a total of â¬1.7 billion in cost savings within three years of the merger. The savings will come from optimization of its supply chain, and the elimination of duplicate resources and products, and around 12,500 jobs. Post-merger, the company makes around three-quarters of its revenue from carrier products. Revenue of â¬1.47 billion came from fixed-line telecommunications equipment in the fourth quarter, â¬1.24 billion from wireless equipment, and â¬510 million from converged products. Enterprise networking equipment accounted for â¬410 million, and services for â¬740 million. Demand was particularly strong for enterprise IP telephony equipment in Europe, the company said.
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InfoWorld - Alcatel-Lucent reported higher sales but a net loss for the fourth quarter due to a big writedown in its CDMA (code division multiple access) and IP (Internet protocol) multimedia services businesses.
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Goldman Sachs comes out with earnings that solidly beat estimates; change at the top at Eli Lilly and SprintNextel; Apple's iPhone to go on sale in Japan.
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Lucent Technologies Inc, the nation's leading telecommunications-equipment maker, recorded its first annual profit since 2000, fueled by rapid growth in its wireless telephone division, the company announced yesterday.
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FedEx Corp. said Thursday that second-quarter earnings more than tripled year-over-year, due to strong results in the company&#39;s express, ground and freight businesses.