MURRAY HILL, N.J.- Telecom equipment maker Lucent Technologies Inc. posted its 11th consecutive quarterly loss while reaffirming its forecast to break even in the next financial cycle.
The company reported a loss of $264 million, or 11 cents per share, in contrast with a loss of $423 million, or 14 cents per share. Lucent said it has $3.7 billion in cash and short-term investments at the end of the first quarter, a drop of $700 million due to restructuring, operational and capital costs.
“We did what we said we would do this quarter,” said Patricia Russo, Lucent’s chief executive officer.
