Nortel Reports Q3 Revenue of $2.66 billion, up 22% YoY

Nortel Networks reported Q3 2005 revenues of US$2.66 billion, up 22% year over year. There was a net loss of $105 million, or $0.02 per common share on a diluted basis, compared to a net loss of $259 million, or $0.06 per common share on a diluted basis, in the third quarter of 2004 and net earnings of $45 million, or $0.01 per common share on a diluted basis, in the second quarter of 2005. The net loss in the third quarter of 2005 included special charges of $37 million related to restructuring activities and a net charge of $20 million related to the re-filing of the Company's tax returns as a result of the financial restatements.


Carrier Packet Networks revenues were $754 million, an increase of 41 percent compared with the year-ago quarter and an increase of 2 percent sequentially.


Enterprise Networks revenues were $685 million, an increase of 16 percent compared with the year-ago quarter and a decrease of 6 percent sequentially.


GSM and UMTS Networks revenues were $674 million, an increase of 24 percent compared with the year-ago quarter and a decrease of 6 percent sequentially.


CDMA Networks revenues were $539 million, an increase of 5 percent compared with the year-ago quarter and a decrease of 19 percent sequentially.
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