Avaya had net income of $16 million for fiscal first quarter endi...
Avaya had net income of $16 million for fiscal first quarter ending Dec. 31, down nearly 77% from $69 million in same quarter year ago as revenue dropped to $1.78 billion from $1.85 billion. Excluding expenses associated with Avaya’s…
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spinoff from Lucent, income was $51 million, down from $67 million year ago. In first fully independent quarter, Avaya data networking sales more than doubled and sales outside U.S. grew 20%. However, expenses were higher due to increases in incentive compensation and R&D investments. Avaya CEO Don Peterson said company expected to see “midsingle-digit revenue growth and more than double our net income in 2001.”