Lucent names Frank D’Amelio as new Chief Operating Officer
Networking giants Lucent have announced that they are likely to fail to meet their revenue numbers for fiscal 2006. The company also announced the appointment of Frank D’Amelio as their new Chief Operating Officer. Frank D’Amelio is also already working in the company as their Chief Financial Officer.
Lucent has suggested that their annual revenues for the 2006 first quarter would be around $2.05 billion. This is somewhat of a disappointment considering the figures of last quarter were around $2.43 billion. Lucent chairman and CEO Patricia Russo said in a statement: “As a result of the first-quarter performance and a review of our expectations for the remainder of the year, we believe it is prudent to change our full-year revenue guidance at this time.â€
Russo added: “While we are clearly disappointed, we consider this to be a temporary setback to the progress we have made, and we are confident that our performance will be much stronger for the remainder of the year.” Lucent is suffering from poor sales in major markets like the US and the China.
Russo added that the company is looking at new avenues to improve profits and their product range. She said: “Our customers continue investing in the next generation of networks that will be based on IMS. And despite this quarter’s results, we continue to see opportunities in the market that align with our strengths and investments in IMS.”