Nortel Warns Revenues Will Fall
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Canadian communications equipment manufacturer Nortel expects its third-quarter revenue to be lower than its second-quarter results.
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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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TORONTO (CP) - Nortel Networks shares fell Thursday after the troubled telecom equipment maker warned that its full-year growth in 2004 will likely trail the industry, rather than outperform its peers as the company has been predicting.
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Nortel Networks said on Thursday it expects third-quarter revenue to fall short of the $2.6bn (Â£1.4bn) sales it posted in the second quarter of 2004.
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Nortel plans to cut about 3,500 jobs, most of them affecting middle managers, in a move to save $450 million to $500 million per year.
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TORONTO -- Nortel Networks Corp., which is in the process of resolving an accounting mess that will result in restatements of prior years&#39; earnings, expects a 28 percent reduction in previously announced net earnings for 2003, compared with its previous
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Nortel Networks Corp. NT.TO said it  expects to report lower third-quarter revenues compared to the  second quarter, North America's largest maker of telecom  equipment said in a regulator required market update on  Thursday.
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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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Auto parts maker Visteon Corp. VC.N   on Tuesday warned sales will fall short of its prior 2006   forecast, becoming the latest supplier to fall victim to   production cuts by the Big Three automakers.
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OTTAWA, Aug 19  - Nortel Network Corp.&#39;s (NT.TO: Quote, Profile, Research) new growth recipe may strike a sour note with Wall Street because it does not center on profit margins, but a focus on cash and costs will better serve the ...
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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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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: Quote, Profile, Research) 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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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
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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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NEW YORK -- Nortel Networks Corp. reported a loss of 6 cents per share in the third quarter and predicted lower sales for 2004 than in 2003 on Tuesday, providing some of its first concrete figures for the
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Nortel Networks Corp. (NT.TO: Quote, Profile, Research) said on Thursday its cost-cutting plan will save $500 million in 2005, and even more in future years, as it eliminates fewer jobs than forecast, but plans to exit real estate.