Nortel profits take a hit due to Bay purchase

Nortel profits take a hit due to Bay purchase

Despite announcing a loss of $US306 million in its third quarter (ending September 30) late last week, Nortel actually managed to post net income of $US241 million, up $45 million over the same quarter last year.

The mixed financials come on the back of Nortel's acquisition of Bay Networks in August this year. But according to company officials, Bay's business hiked revenues for the enterprise networks division by 33 per cent. However, the public carrier networks division experienced a decline in revenue, officials said.

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