Claude Monet Venice Twilight painting
Alphonse Maria Mucha The Judgement of Paris painting
million, or 18 cents a share, down from $768 million, or 24 cents a share a year ago. Revenues for the quarter, which ended June 30, rose 14.6 percent to $9.4 billion, up from $8.2 billion. The stock has fallen about 70 percent so far this year, erasing about $180 billion in market value. The stock closed at $22-1/16, down 9/16, on the New York Stock Exchange (news - web sites). Murray Hill, N.J.-based Lucent cited several reason for its disappointing fourth-quarter performance. Its sales and gross margins in the optical business were lower than expected, due primarily to the late development of new products. Lucent's board decided on Sunday to fire McGinn after it became clear that the problems would linger into 2001, pushing its revenues down 7 percent and wiping out any hopes of a profit in the first fiscal quarter ending Dec. 31.
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