Nortel forecasts for 2000 predicts 17-18% revenue rise

Article Abstract:

Nortel Networks Corp is projecting its per share profit before acquisition in 1999 to increase by 20% from 93 cents in 1998, while sales will grow by 25% to $22 billion during the year. For 2000, revenue is expected to increase by 17%-19% from 1999 with share profit slightly exceeding the sales growth. Nortel also forecasts that its 2000 revenue growhth will surpass the global industy's 14%-15% by three percentage points.

Telecommunications Equipment, Communications Equipment Manufacturing, Telecommunications systems, Nortel Networks Corp.

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Teleglobe issues profit warning

Article Abstract:

Teleglobe Inc sent warnings for lower-than-expected income in the second quarter and the entire 1999. The negative projection results from continuous cost-cutting in the long-distance telephone business as well as the weak Canadian dollar. Teleglobe also estimates that revenue improvements in other aspects of the overall business will be insufficient to compensate for the downturn in the long-distance operation.

Wired Telecommunications Carriers, Telephone Communications, Teleglobe Inc.

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