Telecoms equipment maker Lucent Technologies has reported its 12th consecutive quarterly loss and seen revenues drop 30% on the previous year. Net revenues for its second quarter were $2.4 billion, compared to $3.52 billion a year ago and $2.08 billion the previous quarter. It reported a net loss of $351 million, compared with $495 million a year ago.
The company has reduced its breakeven target from $2.5 billion to $2.4 billion and plans to return to profitability in late fiscal 2003. It expects a 20% to 35% drop in sales for the year to a range of $9.2 billion to $9.8 billion.
24-Apr-2003
