Lucent reports 32% decline in earnings
Lucent said its 32 percent decline in second-quarter earnings was caused by weakened North American wireless sales and a delay in China's 3G network build out. Lucent posted a second-quarter net income of $181 million from $2.14 billion in revenue. The company's revenue was down 8 percent from its year-ago quarter, when Lucent posted net income of $267 million from revenue of $2.34 billion. "Although our North American revenues for the first half of fiscal 2006 are slightly below the year-ago period, the fundamentals of the business remain solid," stated Patricia Russo, chairman and CEO of Lucent.
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