Record first-quarter results reported by Lucent

Record first-quarter results reported by Lucent

Net income reported by Lucent Technologies (Murray Hill, NJ) for the quarter ended December 31, 1996, was $859 million, quite a change from the same period last year when the company reported a net loss of $1.017 billion. Quarterly revenues also set a record at $7.938 billion. The previous record of $7.427 billion was set during the same quarter of 1995. "Very strong sales to network operators, especially in the area of wireless equipment, as well as double-digit revenue increases in our business communications systems and microelectronics units contributed to this outstanding quarter," Henry Schacht, chairman and CEO of Lucent, said. For the 1996 calendar year, revenues were $23.797 billion, u¥from $21.413 billion for 1995.