Nortel Q4 in line with forecasts

Nortel Q4 in line with forecasts

Nortel Networks has posted fourth-quarter 2001 results in line with previous guidance but warned that sales in the first quarter of 2002 will be down 10 per cent.

Revenues were US$3.46 billion for the quarter, compared to $8.20 billion in the same period in 2000. Pro forma net loss was $506 million, or $0.16 per share, compared to pro forma net earnings of $929 million, or $0.29 per share, in the fourth quarter of 2000.

Including acquisition-related costs, charges and other expenses, Nortel recorded a net loss of $1.83 billion, or $0.57 per share, for the fourth quarter.

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