MURRAY HILL, N.J.-Lucent Technologies Inc. said its first quarter 1997 revenues exceeded last year’s record first quarter revenues which included a significant increase in purchasing by local telephone companies as a result of AT&T’s restructuring.
Lucent reported revenues of $7.9 billion, seven percent more than last year’s first quarter revenues of $7.4 billion. Net income for the quarter was $859 million, or $1.35 per share, compared with a net loss of $1 billion, or $1.60 per share, for the same period last year.
“Very strong sales to network operators, especially in the area of wireless equipment, as well as double-digit revenue increases in our business communications systems and microelectronics units contributed to this outstanding quarter,” said Henry Schacht, Lucent’s chairman and chief executive officer.
Lucent’s revenues for the 1996 calender year were $23.8 billion compared with $21.4 billion the previous year. Net income for the year was $1.1 billion, compared with a net loss of $867 million for the 1995 calendar year.
Lucent’s Microelectronics division experienced a 20 percent increase in revenues for the calendar year, while the Consumer Products division had a 40 percent decrease in revenues. The Business Communications Systems division had a 14 percent increase in revenues and the Systems for Network Operators division had a 10 percent increase in revenues.
