Nortel losses continue
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 $US3.46 billion for the quarter, compared to $8.20 billion for 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.
Jacko joins Enterasys
Less than a week after Gary Jackson resigned as Asia vice president for Cisco Systems, the outspoken IT identity has joined arch-rival Enterasys Networks as head of Asia-Pacific. In his new role Jackson will oversee sales, service and strategies throughout the region. Based in Singapore, Jackson will report directly to Enterasys's chief operating officer, Jerry Shanahan. Jackson joined Cisco in 1997 as managing director of the Australia and New Zealand operations. Before that he was the managing director of Sybase and in 1987 was the managing director of Microsoft Australia.
3G network trial
Telstra, Alcatel and the m.Net consortium will give Australia its first look at 3G (third-generation) mobile telephony during the World Congress on Information Technology 2002 next month in Adelaide. M.Net will deliver broadband wireless Web content, such as streaming video, using W-CDMA (wide band code division multiple access) 3G infrastructure from Alcatel and cell locations and spectrum provided by Telstra. In March last year, six Australian 3G spectrum licences were acquired by Telstra, SingTel subsidiary Optus, Vodafone Pacific, Qualcomm-linked 3G Investments, CKW Wireless and Hutchison Telecommunications Australia. The bidders paid a total of $1.17 billion and the companies are expected to start rolling out commercial 3G networks from early 2003.