Once Again, Nortel Says It Must Restate Its Financial Results
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Nortel Networks will restate its results for the fourth time in four years, a move that will delay the filing of its 2006 annual report.
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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, one of the one of the worldâs biggest telecoms equipment makers, has again delayed filing its restated financial results, mainly because of revenue reporting issues, the company said Thursday.
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OTTAWA - Nortel Networks has announced that it&#39;s once again delaying the release of financial reports. The company is currently reviewing its accounting for the past four years.
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TORONTO (CP) - Nortel Networks stock fell to its lowest price in more than a year Wednesday after the troubled telecommunications equipment maker again delayed its much-anticipated financial restatements, this time until mid-November.
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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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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 Corp. said it will miss a self-imposed October deadline for filing restated results, the second time the telephone equipment maker has delayed the release of its financial statements.
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The accounting disaster at Nortel Networks -- which has already resulted in several firings - deepened today as the company said it is again delaying the release of its financial statements and restatements.
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Nortel Networks said today that it will begin releasing restated and delayed financial results dating back to 2001 next week after a nine-month delay.
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Nortel Networks Corp. (NT.TO: Quote, Profile, Research) said on Wednesday that a far-reaching revision of its faulty financials will not require accounting changes for sales of certain fiber optic equipment.
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NEW YORK - It certainly sounds like bad news when a company fires seven executives for financial malfeasance, lays off 3,500 employees and advises investors that it expects sluggish market growth for the year. But for Ontario-based Nortel Networks, it&#39;s ...
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OTTAWA  - Nortel Networks Corp.  posted long-awaited preliminary results for the first half of2004 on Thursday, estimating first and second quarter earningsbetween nil and 1 cent per share.
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Nortel Networks released audited financial statements and said that an inquiry showed that executives had manipulated the initial results to obtain bonuses.
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Analysts will wade through the flood of revisions to financial data that Nortel Networks Corp.  is expected to unleash next week looking not so much for insights into its past, but for clues to its future.
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TTAWA, Aug. 19 - Nortel Networks, the troubled Canadian telecommunications equipment maker, has fired seven more financial managers as it continued to sort out the accounting scandal that led to the dismissal of its president this year.
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Retreating from an upbeat forecast it made just last month, Nortel Networks Corp. (NT.TO: Quote, Profile, Research) on Thursday warned that third-quarter sales will fall