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Yesterday, the company released final fourth-quarter results that were slightly better than its revised projections.
Hastily revised projections suggest it could shrink by anything from 7% to 15%.
The agency's revised projections still fall short of the expectations of private economists, most of whom say the economy will grow by roughly 2percentt.
But Wall Street took Lucent's warning as further evidence that the company, which has repeatedly revised projections downward in the last two years, was consistently too optimistic about its prospects.
The company said it was not counting on an economic recovery this year to meet its recently revised projections of revenue of $21 billion this year for the WorldCom Group, or its plans to generate $1 billion in cash.
It said that it should earn 12 cents a share on sales of about $8.8 billion in the first three months of 2001 but would not issue its downwardly revised projections for all of 2001 until its regular January conference call.
Similar(48)
The Chrysler was projected at 808 feet, and in April 1929, a revised projection put 40 Wall Street at 840 feet.
Revised projection of future greenhouse warming.
The revised projection would be a whopping 60percentt jump in profit.
Alan B. Krueger, chairman of the president's Council of Economic Advisers, confirmed the revised projection for the economic figure that is the most important one to Mr. Obama's re-election prospects.
Instead, the revised projection is 56 delegates for Mr. Gingrich (up 13 from yesterday), 17 for Mr. Romney and 3 for Mr. Santorum.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com