I wasn't even informed that it was up today.
More Quotes from Michael Ching:
The growth in Lucent's optical systems revenue has been the biggest disappointment.Michael Ching
Chipset sales declined 26 percent to 269 million, and operating margins dropped to 24 percent from 39 percent. Qualcomm shipped only 11 million chipsets in the quarter, down from 15 million in the preceding quarter and 13.5 million a year ago. This disappointing performance partially reflected continued weak demand in Korea.
Michael Ching
The magnitude of this adjustment ... is cause for concern. It is unclear how quickly Lucent will be able to implement, and track, a more conservative set of policies.
Michael Ching
Management did outline several actions that they plan to take that should help return the company to more profitability. This will include several hundred million dollars in charges in the December quarter.
Michael Ching
Lucent has run up recently on media discussion of being a take-over target. We believe that in the current environment, this is a possibility.
Michael Ching
With the restructuring essentially finished, we expect investors to now focus on 3Com's emerging technologies and its bottom line. We continue to look for the company to report a breakeven fourth quarter, although earnings per share could turn positive in the second quarter due to non-operating gains.
Michael Ching
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