Lucent on track with financial results

Lucent Technologies yesterday attempted to calm investors after days of bad earnings news by IT industry companies, saying it expects second quarter earnings to be in line with analysts' expectations.

Lucent expects to report earnings per share of 15 cents for its second fiscal quarter, officials from the Murray Hill, New Jersey-based telecommunications equipment vendor said. The company issued a statement ahead of its earnings announcement, which will be released April 22.

The company also expects to hit its revenue target of more than $US8 billion for the quarter, up more than 30 per cent year on year, officials said. For the year, Lucent expects revenue growth of about 20 per cent and earnings per share growth of about 35 per cent, excluding one time events, officials said.

Lucent saw strong growth this quarter both in the US and international markets, Richard McGinn, Lucent's chairman and chief executive officer, said.