As we've said, fiscal year 2001 is a transition and rebuilding year for Lucent,

These are uncertain times. We've got on our belts, suspenders, parachutes and skyhooks,

Our team is working around the clock to restore an American icon.

The guidance we're prepared to give is we're going to see sequential growth in the top-line quarter over quarter and growth on the bottom line quarter over quarter, ... We need to perform. Performance is our mantra, and out here we are working hard to perform.

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.

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.