Wireless Business Helps Lucent Profit
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Lucent Technologies Inc. , among the world's largest makers of telecommunications equipment, on Wednesday said quarterly earnings rose, helped by improvement in its wireless networks business, which makes base stations and other products.
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Verizon Communications Inc  reported a better-than-expected quarterly profit on Monday driven by strong wireless subscriber growth, though analysts were unimpressed by its Internet subscription sales.
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Alltel, which has agreed to be bought by private equity investors, posted quarterly profit of $282.6 million as it added more wireless subscribers than expected.
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Confounding doubters on Wall Street, Atlanta-based Cingular Wireless said it expects to post a profit and positive cash flow next year.
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French-US telecom equipment maker Alcatel-Lucent issued its second profit-warning of the year Thursday, sparking a sharp fall in the group&#39;s share price despite management assurances the merger of the two groups would prove fruitful.
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Cingular Wireless, the largest U.S. wireless phone company, said Wednesday it expects to report a profit and positive cash flow in 2005, one year earlier than planned, following its $41 billion purchase of AT&#38;T Wireless Services Inc.
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Verizon Communications , the  nation's biggest telephone company, on Tuesday reported  better-than-expected quarterly operating earnings on strong  growth in its wireless business.
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Strong wireless and Internet subscriber growth pushed revenue up at the phone company, but profit fell after merger-related costs and other items.
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Lucent Technologies Inc.  said  on Monday it expects third-quarter earnings to fall due mainly  to slower sales of wireless network equipment in North America,  in news that pushed down its shares.
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The phone company reported a fourth-quarter profit, helped by a gain tied to the sale of real estate and an increase in high-speed Internet subscribers.
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(InfoWorld) - Alcatel-Lucent cut its revenue forecast for the year on Thursday, underscoring the challenges the newly merged company faces in a highly competitive communications equipment industry. The company now expects its revenue to be flat or up slightly in 2007, compared with an earlier forecast that it would grow in the mid-single digits along with the overall carrier market. (Both estimates use a constant exchange rate between the euro and U.S. dollar.) In its new forecast, Alcatel-Lucent cited discussions with wireless customers in North America that led it to anticipate weaker spending than it had expected among them this year. Growth in sales volume won't make up for falling prices, Alcatel-Lucent said. As a result, the company expects only to break even in the current quarter. In the second quarter, which ended June 30, it reported an adjusted net loss of â¬336 million, or $455 million as of June 30, the last day in the period being reported. France'sÂ Alcatel bought troubled U.S. infrastructure vendor Lucent last yearÂ as the companies faced Asian competitors, such as Huawei Technologies, as well as consolidation among telecommunications carriers and vendors. It cut 3,800 jobs in the first half of the year and still expects to reach a target of â¬600 million in pre-tax savings from the merger this year, butÂ the merger hasn't led to strong results. The market has lashed out: Alcatel-Lucent's shares (ALA) on the New York Stock Exchange started this year over $15 and are now below $10. On Thursday's news, the stock fell $0.88 to close at $9.16. The company is taking steps to speed up its post-merger restructuring and carry out additional focused cost-cutting plans, CEO Patricia Russo said in a prepared statement on Thursday. Alcatel-Lucent does expect some improvement from quarter to quarter. It forecast third-quarter revenue up slightly from the second quarter and a strong increase in the last quarter of the year. Bright spots in its worldwide business include the wireline and enterprise network business, as well as sales in the Asia-Pacific region.
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The right technology for handsets is helping Cree's sales and its stock price.
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Lucent, Motorola and Nortel won about $3 billion in contracts to help Sprint upgrade its wireless network to handle high-speed Internet traffic over mobile phones and computers.
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Verizon Communications  said on  Monday its quarterly profit rose and its wireless customer  additions were ahead of analyst estimates.
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Despite a dip in profits, growing revenues from wireless subscribers pushed overall profits above forecasts.
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Shares of Lucent Technologies Inc.   fell on Tuesday, dragging down other telecommunications  equipment stocks with it a day after the company warned of a  fall in third-quarter earnings on slower wireless network  equipment sales.
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Nextel Communications Inc., the wireless telephone service provider, reported a 69 percent increase in profits in the third quarter, thanks to continued customer growth as well as a one-time tax benefit, and boosted guidance for the year.