MURRAY HILL, N.J.-Telecom equipment maker Lucent Technologies Inc. suffered its 13th consecutive loss with a fiscal third-quarter loss of $295 million, or 7 cents a diluted share.
The company had warned earlier that it would not return to profitability this year.
“This quarter, even customers who have been aggressively deploying networks slowed their spending,” Patricia Russo, Lucent chairman and chief executive, said. “Clearly, we hit a revenue speed bump.”
A year ago, Lucent had a loss of $8.07 billion, or 2.35 a diluted share. In its fiscal second quarter, its loss was 14 cents a share.
The company, which has slashed its staff by more than half in the past two years, did not say it will cut more jobs, although analysts anticipate a workforce reduction.
