Nortel Says 3rd-Qtr Revenue Will Fall From 2nd Qtr
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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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Verizon Communications Inc., the nation's second largest telecommunications company, on Monday reported third-quarter earnings fell by a third from a year ago due to tax charges.
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Nortel Networks Corp., which is restating results back to 1999, said it had a third-quarter loss of 6 cents a share because of expenses related to job cuts and a wireless contract in India.
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Federated Departments Stores Inc. said Monday that Hurricane Jeanne will hurt third-quarter earnings by 1 cent to 2 cents per share, further lowering an outlook already cut because of lost sales from Hurricane Frances.
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Nortel Networks Corp. investors predicted Tuesday the telecom equipment giant will again slash jobs when it reports long-overdue results this week, and shrugged off news of another criminal probe into its high-profile accounting woes.
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Nortel Networks said the further delay in its release of financial information will &quot;permit the resolution of focused revenue reporting issues and remaining accounting matters identified by Nortel management.
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&quot;Although our revenue growth rate increased in the third quarter of 2004 compared to the second quarter of 2004, our revenue growth rate has generally declined, and we expect it will continue
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Nortel Networks Corp. NT.TO, one of  the world's biggest telecom equipment makers, again delayed the  release of its long-awaited restated financial results on  Wednesday, moving its target by about two weeks to  mid-November.
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The company said third-quarter net income fell 5 percent on weakness in refining, but the decline was less than Wall Street had feared.
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Company will slash nearly 3,250 jobs, reduce real estate to lower annual costs by $393.7M in 2005. TORONTO  - Nortel Networks Corp.
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After again posting record earnings for the third quarter, Taiwan Semiconductor Manufacturing Company (TSMC) expects to see its first sequential drop in fourth-quarter revenues, coupled with a sharp drop in capacity utilization rates.
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Nortel Networks Corp. (NT.TO) delivered long-awaited preliminary results for the first half of 2004 on Thursday that showed estimated first and second quarter earnings between nil and 1 cent per share, and North America's biggest telecom equipment supplier said it would cut about 3,500 jobs.
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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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Shares in Nortel Networks Corp. dropped 9 per cent yesterday after the telecom equipment giant, the subject of several Canadian and US accounting probes, hinted that rivals are taking a bite out of its market share.
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News of an RCMP criminal investigation of Nortel Networks and its financial accounting practices sent the company&#39;s shares down slightly on Tuesday.
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Nortel Networks Corp. (NT.TO: Quote, Profile, Research) warned on Thursday that third-quarter sales will fall below its second quarter and that full-year 2004 revenues at
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Nortel Networks Corp. indicated that it won't be waking from its financial nightmare anytime soon when it delayed on Thursday the release of its financial statements for the third time because it found additional problems with its revenue reporting for past results.