MURRAY HILL, N.J.-Lucent Technologies Inc. posted its 12th consecutive quarterly loss, reflecting a soft market and conservative spending by service providers.
Lucent lost $351 million, or 14 cents per share for the quarter, excluding $202 million in costs connected with preferred dividends and debt payment.
Its revenues dropped 32 percent to $2.4 billion from $3.5 billion a year earlier.
“Despite continuing market uncertainty, on a sequential basis we achieved double-digit revenue growth, significantly increased our gross margin, and excluding the impact of certain items, drove a substantial improvement to our bottom line,” said Patricia Russo, chief executive officer and chairman of the company.
