Nortel Won&#39;t File Results by End of Month
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Canadian telecom equipment maker Nortel Networks Corp. said Wednesday that it won&#39;t be able to file financial restatements to correct accounting irregularities by the end of October, as originally expected.
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Nortel Networks Corp. says it will delay the restatement of financial results for at least another month, producing numbers for 2003 and the first two quarters of this year by the end of October.
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In a long-delayed report to clean up a multiyear accounting scandal, Canadian telecom equipment maker Nortel Networks Corp. slashed its audited profit for 2003 by 40 percent while reporting that a dozen senior executives would repay $8.6 million in bonuses and five board members would resign.
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Amid continuing problems with the release of its financial statements, Nortel Networks yesterday reported a loss for this year's third quarter but said it expects improvements in fourth-quarter revenue.
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Nortel Networks Corp. NT.TO NT.TO  posted long-awaited preliminary results for the first half of  2004 on Thursday, estimating first and second quarter earnings  between nil and 1 cent per share.
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Nortel Networks Corp. will lay off approximately 1,400 employees in the U.S. and about 950 in Canada, with those employees to be notified by the end of June 2005, the network equipment vendor said in a regulatory filing Thursday that fleshed out earlier announcements of the coming layoffs.
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Nortel Networks Corp. (NT.TO: Quote, Profile, Research) put a specific date, Jan. 10, on when it will start filing its much-delayed restatement of financial results on
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Nortel Networks Corp. said the Toronto Stock Exchange and the New York Stock Exchange won&#39;t commence suspension or delisting actions because of the company&#39;s delay in filing certain financial reports.
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Nortel Networks is under investigation by the Royal Canadian Mounted Police for irregularities in past accounting practices. Announcement of the investigation -- two days before its release of first- and second-quarter financials -- caused ...
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TORONTO - Nortel Networks said Wednesday it is again delaying the release of its much-anticipated financial restatements going back to 2001 and now expects to have them ready by mid-November.
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Nortel Networks has again delayed posting its long-awaited restated financial results, moving its target release date to mid-November.
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Symbol Technologies SBL.N, a bar  code scanner and handheld computer maker, said on Monday it  will delay filing its third-quarter results, and it revised  downward results for the first nine months of the year because  of errors in how inventory levels were reported.
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Nortel Networks Corp. on Wednesday said it will not be required to change its accounting treatment of optical products sales, and it received verbal confirmation that two stock exchanges do not plan to begin any suspension or delisting procedures.
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OfficeMax Inc. OMX.N on Wednesday  said it is delaying the release of its financial results after  an internal probe found employees had fabricated supporting  documentation for $3.3 million in billings.
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Nortel Networks Corp., which plans to shed some light tomorrow morning on its financial performance for the first half of the year, hinted yesterday that those long-awaited results could be short on details.
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Nortel (NT:NYSE - news - research) suffered another setback on its march to accountability Thursday, warning that it will need an additional month to complete its audit and file restated financials.
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WASHINGTON (CBS.MW) -- Nortel Networks on Tuesday issued partly revised financial results back to 2001 and said 2004 sales are likely to fall short of the prior year&#39;s tally, partly because of the company&#39;s probe of accounting improprieties.