Henry Schacht
Henry Schacht
Henry Schachtis an American businessman, a former chairman and chief executive officer of Cummins Diesel, and later CEO of Lucent Technologies...
ahead predict prepared top
For us to go ahead and try to predict top line, we're just not prepared to go there,
uncertain
These are uncertain times. We've got on our belts, suspenders, parachutes and skyhooks,
asked assist complete counsel discovered outside public related review soon
We wanted to make this public as soon as we discovered the issue, ... I have asked our outside auditor and outside counsel to assist us in doing a complete review of this and any related issues.
additional associated business charges company continue cost fiscal focus internal moves processes provider result review service single structure throughout year
Lucent will continue to review its internal processes throughout fiscal year 2001, which may result in additional cost structure improvements and associated business restructuring charges as it moves from a multi-divisional company to one with a single focus on the service provider market,
company faster grow track tried
Lucent got off track because we tried to grow our company faster than, in hindsight, we were able to,
clearly company compete fiscal fortunate growth knowledge leading looking people rebuilding remains results transition year
We are clearly disappointed in our results for fiscal year 2000. We are looking at fiscal year 2001 as a transition and rebuilding year for Lucent. Lucent remains a company with world-class products, people and knowledge of networks, and we are fortunate to compete in one of the world's leading growth markets.
clearly company compete fiscal fortunate growth knowledge leading looking people rebuilding remains results transition year
We are clearly disappointed in our results for fiscal year 2000, ... We are looking at fiscal year 2001 as a transition and rebuilding year for Lucent. Lucent remains a company with world-class products, people and knowledge of networks, and we are fortunate to compete in one of the world's leading growth markets.
believe business calendar current customer early fiscal forecasts higher improve increased quarter rate reduced second seeing segments signs spending surprising
We believe our revenues will improve in the second fiscal quarter of 2002. In fact, we are seeing early signs of increased customer spending in some segments of our business for that quarter, ... This isn't surprising because even our customers' reduced forecasts for calendar 2002 are still higher than their rate of spending in the current quarter.
expense fiscal half levels reduced rest second year
It will take the rest of fiscal 2001 to get back on track, ... In the second half of the year the significantly reduced expense levels will take hold.
clock restore team
Our team is working around the clock to restore an American icon.
fiscal rebuilding transition year
As we've said, fiscal year 2001 is a transition and rebuilding year for Lucent,
both business continue deep execute financial knowledge portfolio product
As we continue to execute our business restructuring program, Frank's deep knowledge of both our financial and product portfolio will be key.
actions believe cash despite drive fiscal flow phase positive return weakness year
Despite the short-term weakness in the market, we believe that our Phase II restructuring actions will drive our return to profitability and positive cash flow in fiscal year 2002,
confusing customers seeing time
This is a very confusing time because all of our customers are seeing 15- to 20-percent cuts,