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Lucent reports falling profits

Lucent Technologies have reported lower quarterly profit and revenues. The company has suffered from declining sales in markets like India and China. They have also said that they are expecting revenues to remain low this year.
One of the major reasons behind these falling sales is the delayed third-generation wireless licenses in China and selective participation in opportunities in India. The company is currently undergoing an acquisition by larger French rival Alcatel.
Lucent Technologies posted fiscal second-quarter net income of $181 million, or 4 cents per share. This is down from $267 million or 6 cents a share, a year earlier during the same period.
This is however better than market analyst’s expectations. The revenues for the company were at $2.14 billion. This is a decline of around 8% compared to last year. John Kritzmacher, Lucent chief financial officer, said in a statement: “The ramp-up in spending is occurring more slowly than we anticipated.”