Nortel reverses losses

The fire-sale of Nortel's business units last year has accomplished what the supplier's management team failed to do, reversing its full-year net losses. During...

The fire-sale of Nortel's business units last year has accomplished what the supplier's management team failed to do, reversing its full-year net losses.

During the last three months of the financial year, the networking supplier made a net profit of $1.78bn (£1.18bn), while for the full year it banked $488m.

The fourth-quarter figures were buoyed by a $689m gain primarily related to the sale of the enterprise unit to Avaya, and $1.26bn relating to the sale of the CDMA/LTE business to Ericsson.

Fourth-quarter sales rose to $794m, excluding revenues of $367m related to Equity Investees and $300m related to discontinued operations. Full-year sales fell 46% year-on-year to $4.09bn.

Nortel put its declines chiefly down to the uncertainty that surrounded its operations over the past 14 months, and reaffirmed its policy of attempting to "maximise value" for stakeholders, creditors, customers and employees.

CW+

Features

Enjoy the benefits of CW+ membership, learn more and join.

Read more on Operating systems software

0 comments

Oldest 

Forgot Password?

No problem! Submit your e-mail address below. We'll send you an email containing your password.

Your password has been sent to:

-ADS BY GOOGLE

SearchCIO

SearchSecurity

  • Dissecting the Hack

    In this excerpt from chapter three of Dissecting the Hack: The V3RB0TEN Network, authors Jayson E. Street, Kristin Sims and Brian...

  • Digital Identity Management

    In this excerpt of Digital Identity Management, authors Maryline Laurent and Samia Bousefrane discuss principles of biometrics ...

  • Becoming a Global Chief Security Executive Officer

    In this excerpt of Becoming a Global Chief Security Executive Officer: A How to Guide for Next Generation Security Leaders, ...

SearchNetworking

SearchDataCenter

SearchDataManagement

Close