Corporate spending spurs Avaya

Communications equipment maker Avaya on Tuesday posted a first-quarter profit of $30 million, or 7 cents a share, compared with a loss of $125 million, or 34 cents, a year ago.

Avaya Chief Executive Don Peterson said in a statement that corporate clientele have signaled "what we believe is the beginning of a rebound in capital spending." Avaya joins a growing chorus of companies that are projecting an upcoming increase in business spending on information technology.