Lucent glum about short-term prospects

Tightening belts and purse strings...

Tightening belts and purse strings...

Telecoms equipment vendor Lucent has predicted revenue will be substantially down in the third quarter as operators continue to tighten the purse strings. The company warned revenue would be down 10 to 15 per cent from its second quarter revenues of $3.52bn. In a statement, Patricia Russo, CEO of Lucent, said service providers constraining their capital spend was having a clear affect on the company's top line. However, she said Lucent would continue with its "aggressive restructuring program and identify ways to improve productivity and operational effectiveness". For related news, see
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