Nortel expects to reach earnings goals

Article Abstract:

Telecommunications-equipment maker Nortel Networks Corp. says 4th quarter revenue will be in the $8.5 bil to $8.8 bil range. Earnings per share will be 26 cents. 1st quarter 2001 should hit targets of $8.1 bil to $8.3 bil with earnings of 16 cents per share. The company forsees 30% to 35% growth in 2001. Wireless and intra-city network spending will continue; optical sales may see an increase of 50%. Nortel expects to increase financing of customer purchases, up from $1.1 bil this year to $2 bil in 2001.

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Nortel loss widens; stock price falls after market closes

Article Abstract:

Nortel Networks Corp. reports a third-quarter operating profit of $574 million, up from $314 a year ago. Nortel's revenue also jumped from $5.15 billion a year ago to this year's $7.31 billion. The company also reports a net loss of $586 million compared to last year's figure of $79 million.

Finance

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Nortel lowers 1st-quarter forecast again

Article Abstract:

Forecasts of reduced results in the first quarter will be reduced again, says Nortel Networks Corp. The additional lowering of their forecasts are due to the general economic slowdown as well as a slowdown in the telecommunications industry itself.

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