Tags: Revenues

Lucent Technologies suffers from slowing sales and falling revenues

Lucent Technologies has said in a statement that they are expecting their third-quarter earnings to fall. This is mostly due to lack of sales in the wireless network equipment market in North America.

The news pushed the company’s share prices down at the stock market. The company is undergoing a merger with France’s Alcatel group and it is expected to be complete by the end of the year.

Lucent said that its revenues in the most recent quarter would be around $2.04 billion, compared with $2.14 billion in the second quarter and $2.34 billion a year ago. Income would be down to around 2 cents a share compared to 4 cents a share in the second quarter and 7 cents a year earlier.

This is much below what the market analysts had expected from the company. Lucent and Alcatel are aiming to save around $1.7 billion within three years after the merger.