Lucent reports net income flat from year-ago

NEW YORK: Communications equipment maker Lucent Technologies Inc. said on Tuesday its net profit for the fiscal fourth-quarter was mostly flat from the year-ago quarter.

Net income for the quarter ended Sept. 30 was $371 million, or 7 cents a diluted share, from $372 million, or 7 cents in the year-ago quarter, it said.

Lucent said the fourth-quarter's earnings per share was helped by the addition of $73 million, or about 1 cent per share, for tax items and the reversal of U.S. deferred taxes.

Revenue was $2.56 billion, a rise of 5 percent from the year-ago quarter.

Lucent is due to be acquired by France's Alcatel, pending approval by the U.S. Committee on Foreign Investment in the United States.

The merger is to create one of the world's biggest suppliers of network hardware and software for mobile communications and high-speed Internet.

For the full fiscal year, the company said it essentially maintained its annual U.S. revenue level. Revenue fell outside the U.S., particularly in China and India, it said.

The company did not give a specific forecast, citing its pending merger with Alcatel.

Lucent said the two companies expected the merger, which was approved by shareholders of both sides on Sept. 7, would be completed by the end of the calendar year