Agere Reports Flat Revenues and Flat Outlook for 2003

Agere Systems reported quarterly revenue of $436 million, down 2% compared with revenues of $445 million in the year-ago quarter and down from $491 million in the preceding quarter. The reported net loss for the December quarter was $146 million or $0.09 per share. Agere said its major restructuring efforts are either completed or well underway. The company has now completed the disposition of its optoelectronic components business. The outlook for the current quarter is also for flat revenues. For fiscal year 2003, the Agere expects revenues to be about $1.85 billion, consistent with the guidance provided in October.
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