Lucent Technologies Reports Third Quarter 2000 Financial Results
Lucent Technologies (Murray Hill, NJ) announced that pro forma earnings per share from continuing operations rose 30 percent to $0.30 a share, or $1.007 billion, for its third fiscal quarter ending June 30, 2000. This compares with $0.23 a share, or $732 million, in the year-ago quarter. Pro forma revenues from continuing operations increased 20 percent to $8.713 billion versus $7.245 billion a year ago.Lucent has also announced that it plans to spin off its $4.0 billion microelectronics business, which includes the optoelectronics components and integrated circuits divisions. The company is planning an IPO for up to 20 percent of the new company in the first calendar quarter of 2001, with the remaining shares expected to be spun off in a tax-free distribution by next summer.