Lucent Posts First Profit Since 2000

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Lucent Technologies recorded its first profitable year since 2000, as well as a larger profit for its fourth fiscal quarter, AP reported.

The struggling telecommunications-equipment maker has slashed more than 80% of its work force due to multibillion-dollar losses, according to AP.

For its fiscal fourth quarter ended Sept. 30, the vendor posted net income of $348 million, or 7 cents per share, versus $77 million (2 cents) after payment of preferred dividends in the previous-year period.

Revenue was $2.4 billion, up 19% from $2.03 billion in the year-ago period.

“We expect our market -- and our business -- to grow again in 2005 as our customers continue to invest in revenue-generating services and more efficient network operations,” chairman and CEO Patricia Russo told AP.

"On the wireline side, we will continue to see a transition to broadband access and new IP-based [Internet protocol] infrastructures and applications," she added.

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