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April 4, 1997updated 05 Sep 2016 1:01pm

LUCENT’S FIRST YEAR PROFITS CONFOUND ANALYSTS

By CBR Staff Writer

AT&T Corp spin off, Lucent Technologies Inc has completed its first year as a public company by confounding its analysts. Net profits for the second quarter ended March 31 have been predicted to fall within the $55-$65m region, more than double the market’s expected figure. The Basking Ridge, New Jersey-based company designs and builds communications and telephone systems as well as manufacturing microelectronics components. Lucent has long been predicting that it will grow faster than the telecommunications market in general (CI No 3,017). The announcement comes two weeks before the official second quarter results are due on April 17th. Shares in the company responded by finishing the day up $1.75 at $52.00.

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