Nortel Networks last week reported third quarter revenue of $US5.4 billion, an increase of 30 per cent over the same period last year. Excluding acquisition-related costs and one-time gains and charges, net earnings from operations increased 61 per cent over third quarter 1998, and stood at $380 million, or 28 cents per share, compared with figures of $236 million, or 21 cents per share, last year. Including those costs, Nortel's net earnings were $1 million, or less than 1 cent per share.
Stories by Matthew Woollacott
According to a new report published yesterday by International Data Corp, the emergence of the application service provider (ASP) model for software licensing will have a dramatic impact on the existing customer-vendor relationship model and could result in disaster for those vendors that do not adjust quickly enough to the new paradigm.