March 18, 2004 |
Lucent Technologies Inc., the largest U.S. maker of phone equipment, said the Securities and Exchange Commission would ask the company to pay a $25-million penalty for "lack of cooperation" during an investigation. Lucent, based in Murray Hill, N.J., will be fined because of the company's behavior during a probe, settled last year, of $679 million in improperly recorded sales, the company said. The penalty also relates to unspecified "certain actions" taken after the agreement was reached.
January 22, 2004 |
Telephone equipment maker Lucent Technologies Inc. had fiscal first-quarter net income of $338 million as sales rose for the first time in more than three years on demand for wireless-network gear. Profit was 7 cents a share, contrasted with a year-earlier loss of $264 million, or 11 cents. Sales rose 8.9% to $2.26 billion. Lucent fell 33 cents, or 7%, to $4.42 on the NYSE. From Bloomberg News
October 23, 2003 |
Lucent Technologies Inc. had its first profit in 14 quarters, rebounding from almost $30 billion in losses in the last three years by slashing costs amid slumping sales of phone gear. Lucent reported net income of $99 million, or 2 cents a share, contrasted with a net loss of $2.81 billion, or 84 cents, a year earlier. The company said sales fell 11% to $2.03 billion. Lucent's return to profitability came earlier than Chief Executive Patricia Russo predicted.
September 17, 2003 |
Dell Inc. sued Lucent Technologies Inc., claiming infringement of two patents for accessing data. Lucent's AnyMedia, a switching system for telephone companies, is the target of the lawsuit. Dell wants cash compensation for what it says is impermissible use of its patented technology and a court order halting sales of AnyMedia, which is used by Bell Canada and other companies to deliver a mix of telephone and Internet access on a single line. From Bloomberg News
July 16, 2003 |
Lucent Technologies Inc., the biggest U.S. maker of telephone equipment, said its fiscal third-quarter revenue declined to about $1.97 billion because of lower sales of wireless equipment and pushed back its target for a return to profitability. The firm said it had a narrower third-quarter net loss of 6 cents to 8 cents a share in a statement on preliminary results, compared with $2.35 a year earlier. It said third-quarter sales fell 18% from $2.4 billion in its second quarter. Sales were $2.
May 29, 2003 |
Lucent Technologies Inc., the biggest telephone equipment maker in the nation, sued California-based rivals Extreme Networks Inc. and Foundry Networks Inc. on Wednesday in federal court in Delaware over five patents for managing communications data. The suit contends that the two companies are making and selling equipment that uses Lucent's patented inventions for organizing voice and data transmissions.
February 28, 2003 |
Lucent Technologies Inc., a maker of telephone equipment, said it settled a Securities and Exchange Commission probe of $679 million in improperly recorded sales. Lucent doesn't have to pay any penalties or restate results, and the company agreed to abide by securities laws. The SEC began its investigation after Lucent reported the misstated revenue to regulators in 2000.
February 20, 2003 |
Lucent Technologies Inc. has named Chief Executive Patricia Russo chairwoman of the telecommunications equipment maker. Russo, 50, retains the CEO title and succeeds Henry Schacht, 68, who will remain as an outside member of Lucent's board.
December 3, 2002 |
Lucent Technologies Inc. will ask shareholders for the option to approve a reverse stock split at any one of four ratios, a move needed because of the lingering slump in Lucent's stock price. Lucent, which announced plans for the reverse split in October, will seek shareholder approval of the proposal during its next annual meeting, set for Feb. 19 in Dallas, according to a preliminary proxy statement filed late Monday with the Securities and Exchange Commission.
November 2, 2002 |
Treasury Secretary Paul H. O'Neill is unaware of any probe by federal regulators into accounting at Lucent Technologies Inc. when he was on the audit committee of the telecom equipment maker, a spokeswoman for O'Neill said Friday. "Corporate misdeeds revealed during the last year led the secretary to be very vocal in calling for increased corporate disclosure and greater accountability for CEOs," the spokeswoman, Michele Davis, said.