Lucent reports Q3 profit drop, sales growth

Lucent Technologies yesterday said that its third-quarter profit declined by 4 percent from a year ago to due a rise in operating expenses while the company's sales grew by 6.8 percent. Lucent reported net income for the quarter of $372 million, down from $387 million a year earlier. Sales rose to $2.34 billion as carrier demand for network equipment and services continued to grow. Wireless sales grew 14 percent from a year ago to $1.17 billion, boosted in large part by Verizon Wireless' roll out of its nationwide EV-DO 3G network.

For more on Lucent's Q3 numbers:
- go to this story from AP