Lucent Reports Second Quarter Revenue Up 17 Percent
MURRAY HILL, N.J., April 24 -- Lucent Technologies reported net income of $754 million, or 23 cents per share, for its second fiscal quarter ended March 31, 2000. These results show a 41-percent increase over the $535 million, or 17 cents per share, recorded last year. Revenues rose 17 percent to $10.256 billion from $8.783 billion in the same quarter of the prior year.
Lucent is regaining its momentum this quarter with strong growth in wireless, Internet infrastructure -- including optical and data networking systems and optical fiber -- professional services and optoelectronics, said Richard McGinn, Lucent's chairman and CEO. He noted that revenues for both the wireless and service provider Internet infrastructure market segments increased by more than 50 percent.
McGinn also said the company expects to see accelerating growth in optical networking based on strong contract momentum. Lucent announced new contracts worth more than $1 billion for its optical networking products during the quarter. The company's overall contract backlog for ongoing operations increased by 25 percent from the second quarter of fiscal 1999.
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