Lucent Technologies Inc. cut its earnings predictions for both the first quarter and the full year, primarily due to lower equipment sales in the United States and Canada.
The telecommunications equipment company expects its earnings for the quarter ended Dec. 31 to be about $2.05 billion, down from its $2.43 billion in the previous quarter.
“Our customers continue investing in the next generation of networks that will be based on IMS, and despite this quarter’s results, we continue to see opportunities in the market that align with our strengths and investments in IMS, 3G mobile services, next-gen optical and access,” said Patricia Russo, Lucent’s chairman and chief executive officer.
The company expects its revenue in the second half of the year to be “significantly higher” than in the first half. Lucent plans to release its official quarterly results Jan. 24.
Russo also announced that Lucent’s chief financial officer, Frank D’Amelio, has been appointed chief operating officer. D’Amelio will continue to serve as CFO until his successor in that post is named.
