Nortel Reports 2004 Results

Nortel Networks reported Q4 2004 revenues of $2.6 billion, up sequentially 20%, and Q4 2004 net earnings of $133 million, or $0.03 per common share on a diluted basis.


Wireless Networks revenues were $1.28 billion, an increase of 21 percent sequentially and a decrease of 11 percent compared with the year-ago quarter.


Enterprise Networks revenues were $651 million, an increase of 10 percent sequentially and a decrease of 31 percent compared with the year-ago quarter.


Wireline Networks revenues were $461 million, an increase of 22 percent sequentially and a decrease of 19 percent compared with the year-ago quarter.


Optical Networks revenues were $226 million, an increase of 46 percent sequentially and a decrease of 28 percent compared with the year-ago quarter.


Gross margin was 45 percent of sales in Q4.


Cash balance at the end of Q4 2004 was $3.69 billion which was up from $3.39 billion at the end of Q3 2004.


For the year 2004, revenues were $9.83 billion compared to $10.19 billion for the year 2003. Nortel reported net loss of $51 million, or ($0.01) per common share on a diluted basis, for the year 2004, compared to net earnings of $434 million, or $0.10 per common share, for the year 2003.
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