By Tony Hallett, 23 July 1998 16:42
NEWS Lucent Technologies more than doubled its profits during the quarter ending 30 June 1998. The world's largest telecoms equipment vendor made $435m, up from $213m for the same quarter last year, on revenues of $7.3bn. Since being spun-off from AT&T, Lucent's stock has sky-rocketed, and the company is now seeking to exploit the strong demand for datacoms equipment as networking companies such as Cisco and Bay Networks encroach on its traditional market. This week Lucent announced a $2.4bn, five-year deal to supply SBC Communications with switching hardware.
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