Nortel Says Financial Statements Will Be Further Delayed
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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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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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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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In SEC filing Thursday, computer maker again says delay is result of ongoing investigations into accounting and reporting matters.
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Nortel Networks Corp. NT.TO said on  Wednesday that a far-reaching overhaul of its faulty financials  will not require changes to accounting for sales of certain  fiber optic equipment.
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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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MANHASSET, NY - Nortel Networks Corp. announced Wednesday (Oct. 27) that it will postpone releasing its third-quarter 2004 earnings until December, as the network infrastructure company continues to work
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RESEARCH TRIANGLE PARK - Nortel has again pushed back restatements of earnings and also will not disclose its third quarter results until later this year, the company said Wednesday.
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Sony Corp. said on Wednesday it would delay its annual earnings report by a few weeks as it grapples with the extra paperwork needed to comply with tougher U.S. accounting rules.
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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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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 NT.N,  one of the world's largest telecoms equipment makers, said  again on Thursday that it expects to "commence" filing audited  2003 results on Jan. 10.
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Nortel Networks Corp. NT.TO, one of  the world's biggest telecoms equipment makers, has again  delayed filing its restated financial results, mainly because  of revenue reporting issues, the company said on Thursday .
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Nortel Networks Corp. NT.TO, one of  the world's largest makers of telecoms equipment, said on  Wednesday it would miss by about two weeks its end of October  deadline to release long-awaited restated financial results.
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Nortel Networks Corp. NT.TO expects  to report lower 2004 third-quarter revenues compared to the  second quarter, North America's largest maker of telecom  equipment said in a market update required by regulators on  Thursday.
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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 said on  Wednesday that after months of trying to untangle faulty  financial results, it plans to file 2003 and first-half 2004  results starting Jan. 10 of next year.