Nortel lowers expectations
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Nortel said it expects revenue for the third quarter to fall short of expectations.
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NEW YORK -- Nortel Networks Corp., one of the top global makers of telecommunications equipment in North America, said Thursday it expects third-quarter revenue to fall short of the $2.
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TORONTO -- Shares of Nortel Networks edged lower yesterday after Canadian officials said they were opening a criminal investigation into accounting practices at the telecommunications equipment maker.
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Nortel Networks Corp. expects to report lower 2004 third-quarter revenues compared to the second quarter, North America&#39;s largest maker of telecom equipment said in a market update required by regulators on Thursday.
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Nortel Networks Corp. will lay off approximately 1,400 employees in the US 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
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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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NEW YORK (CBS.MW) - Nortel Networks shares fell Tuesday after the company said the Royal Canadian Mounted Police&#39;s informal probe of the company&#39;s accounting has now become a criminal investigation.
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Nortel Networks Corp. NT.TO on  Thursday said it would eliminate about 10 percent of its work  force, slightly less than previously estimated, and consolidate  real estate in a cost-cutting plan that will save $500 million  in 2005.
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Canadian officials are opening a criminal investigation into accounting at Nortel Networks Corp. Shares in the telecom equipment maker edged lower yesterday.
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Nortel Networks Corp. NT.TO on  Thursday warned that third-quarter sales will fall below its  second quarter and that full-year 2004 revenues at North  America's largest telecom equipment maker will lag the overall  sector.
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Shares of Nortel Networks Inc. NT.N  fell 6.6 percent in premarket trading on Thursday after the  telecommunications equipment maker said it expects  third-quarter revenue to fall from the previous quarter.
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Nortel Networks Corp. (NT.TO: Quote, Profile, Research) , one of the world&#39;s biggest telecom equipment makers, again delayed the release of its long-awaited restated
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Nortel Networks Corp., North America&#39;s largest telephone-equipment maker, said sales growth this year will lag that of competitors and predicted third- quarter revenue will fall from the second period&#39;s $2.
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NEW YORK, October 27  - Nortel Networks Corporation (NT.NYS) has postponed the release of its long-awaited financial results restatement until mid-November this year.
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Retreating from an upbeat forecast it made just last month, Nortel Networks Corp. on Thursday warned that third-quarter sales will fall below its second quarter and 2004 revenue growth at
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Nortel Networks Corp. NT.TO NT.N,  one of the world's largest telecom equipment makers, filed its  long-awaited restatement of 2003 results on Tuesday which cut  earnings, but boosted revenue.
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TORONTO (CP) - The accounting calamity at Nortel Networks Corp. deepened Thursday as Canada&#39;s largest technology company again delayed its financial statements and restatements.