Lucent Technologies posted quarterly sales that fell just shy of Wall Street expectations despite improved demand.
Revenue rose 3 per cent to $2.34 billion in the fourth quarter of 2004. Wall Street's average forecast was $2.41 billion.
Lucent posted net income of $174 million, or 4 cents a share, down from $349 million, or 7 cents a share, a year earlier. It was the company's sixth consecutive quarterly profit.
Lucent shares fell 2.7 percent in pre-market trading on the Inet electronic brokerage system, to $3.60 from a close of $3.70 yesterday on the New York Stock Exchange.
