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Nortel reports second quarter results

Nortel Networks Ltd. today reported revenues of US$2.74 billion for the second quarter of 2006 compared to US$2.38 ...


August 3, 2006  


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Nortel Networks Ltd. today reported revenues of US$2.74 billion for the second quarter of 2006 compared to US$2.38 billion in the previous quarter.

The company reported net earnings of US$366 million or $0.08 per common share on a diluted basis. That compares to a net loss of US$167 million in the first quarter.

“Our second quarter performance underscores both the challenges and good progress we are making with Nortel’s transformation,” said company president and CEO Mike Zafirovski.

“On the plus side we saw strong order growth of 22% and increased sales momentum, but gross margin was up only modestly and not at the 40% target we have set for ourselves.”


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