Second-quarter revenue fell 32.2% to $181m on revenue down 8.4% at $2.13bn. The outlook for Lucent’s remaining future of six to 12 months as an independent company is equally gloomy. CFO John Kritzmacher said that while it expects second-half revenue to improve significantly over the first half, it now expect annual revenues to be down.
This is the second scaling-back in its forecast for 2006. In January it cut back its growth forecast to essentially flat or an increase in the low-single digits from its earlier estimate of growth in the mid-single digits.
Overseas, Lucent expects a $500m revenue decline in China and India, driven primarily by declines in personal handyphone system sales and delays in China’s 3G licenses.
In North America, wireless operators have scaled back their investments. However, Lucent CEO Patricia Russo said she expects an acceleration in the fourth quarter around UMTS and EVDO Rev A deployments.
