Lucent reversed last year's loss to make second quarter profits of $66 million, 25 per cent above analyst estimates. Revenue grew by 12.5 per cent to $5.15 billion. Strong sales of wireless systems, software and switches were credited with the good results, and helped to balance a sharp decline in sales of transmission equipment and switches to the Bell telecomms operators. Also in decline is the consumer business, but Lucent is pushing agressively into new markets such as microelectronics. Non-US business is also a growth area, with sales up 28 per cent in the quarter. Chief financial officer Donald Peterson said the company expects to see quarter on quarter growth for the rest of the year.
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