MURRAY HILL, N.J.-Lucent Technologies Inc. reported revenues of $6.2 billion for its second quarter ended March 31, a 20-percent increase compared with $5.1 billion reported in the same quarter of 1997.
The company experienced a 65-percent drop in quarterly net income from $66 million, or 5 cents per share (diluted), a year ago to $23 million, or 2 cents (diluted) this year. The drop is attributed to a one-time, after-tax charge of $157 million related to Lucent’s January acquisition of Prominet Corp.
Excluding the unusual charge, Lucent’s net income would have more than doubled to $180 million, or 14 cents per share.
The diluted earnings per share for the recent quarter reflect a 2-for-1 stock split that was effective April 1. On a pre-split basis, earnings per share would have been 27 cents, said the company.
Lucent’s activity in the wireless arena during the quarter included an exclusive $500 million contract with PrimeCo Personal Communications L.P. and the acquisition of Hewlett-Packard Co.’s wireless broadband division.
