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Lucent Drags Down Alcatel

LONDON — A profit warning from Lucent Technologies Inc. hit Alcatel's share price the next day (July 11) on the Paris bourse, even though the French giant announced trading in line with expectations.

The two companies announced their intention to merge in April this year.

Lucent said revenues for its fiscal third quarter (to June 30) are expected to be $2.04 billion, some $300 million short of the $2.34 billion expected by analysts.

That number is also shy of second quarter revenues, which were $2.14 billion, and the $2.34 billion recorded in fiscal 2005's third quarter.

Lucent also said earnings per share for the third quarter are expected to be 2 cents -- half the 4 cents analysts had anticipated.

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