Nortel Networks Confirms Fiscal 1999 & 2000 Financial Guidance Experiences Continuing Momentum For High-Performance Internet Capabilities
biz.yahoo.com
Thursday January 6, 7:55 pm Eastern Time
Company Press Release
SOURCE: Nortel Networks Corporation
Attention Business/Telecommunications Editors: Nortel Networks Confirms Fiscal 1999 & 2000 Financial Guidance
Experiences Continuing Momentum For High-Performance Internet Capabilities
BRAMPTON, ON, Jan. 6 /PRNewswire/ - Nortel Networks(x) (NYSE/TSE:NT) today confirmed that it remains very comfortable with previously stated financial guidance for fiscal 1999 and 2000.
Commenting specifically on the Corporation's financial guidance for 1999, the Corporation continues to anticipate revenue in the range of US$21.5 to US$22 billion and net earnings per share from operations(xx) growth in the 20% range in accordance with Canadian GAAP. For fiscal 2000, in accordance with U.S. GAAP, the Corporation continues to expect that its revenue growth will exceed the market growth rate of 14 to 15 percent by about 6 percentage points, and that net earnings per share from operations(xx) will grow faster than revenue.
``We remain extremely positive on our outlook for 2000 given the continued momentum across our high-performance Internet portfolio,' said John Roth, president and chief executive officer, Nortel Networks. ``We expect ongoing strong demand for our optical, wireless, asynchronous transfer mode (ATM) switches, high speed access and Internet Protocol (IP) offerings. We are realizing our potential at the heart of the Internet revolution and expect our growth drivers to provide ongoing momentum. We are also pleased with the ramping of our business to meet demand for our industry leading Optical Internet portfolio.'
Nortel Networks will announce fourth quarter and full year 1999 results after the market close on January 25, 2000.
Nortel Networks is a global leader in telephony, data, wireless and wireline solutions for the Internet. The Company had 1998 revenues of US$17.6 billion and serves carrier, service providers and enterprise customers globally. Today, Nortel Networks is creating a high-performance Internet that is more reliable and faster than ever before. It is redefining the economics and quality of networking and the Internet through Unified Networks(x) that promise a new era of collaboration, communications and commerce. Visit us at nortelnetworks.com |
