biz.yahoo.com
Monday November 20, 6:51 pm Eastern Time
Nortel reaffirms financial guidance for 2000, 2001
NEW YORK, Nov 20 (Reuters) - Communications equipment maker Nortel Networks Corp.,
whose stock has been hit by fears of lost contracts and layoffs, on Monday reaffirmed its
financial guidance through 2001, saying it continues to see strong growth in sales of optical,
wireless and Internet equipment.
Nortel (NYSE:NT - news) (Toronto:NT.TO - news), which will host an investor conference in
Boston on Tuesday, said it expects its 2000 revenues and earnings from operations to show
growth in the low 40-percent range. It expects its optical Internet revenues to grow more than
125 percent in 2000 to more than US$10 billion.
For the fourth quarter of 2000, Nortel expects its revenues to be US$8.5 billion to US$8.8 billion, with earnings from operations of
26 cents a share. That earnings outlook is consistent with its previous guidance and is in line with Wall Street expectations,
according to research firm First Call/Thomson Financial.
For the full year 2001, Nortel expects to outpace the overall market growth of 20 percent. It expects its revenues and earnings per
share from operations to grow by 30 percent to 35 percent.
In the first quarter of 2001, it expects revenues to be US$8.1 billion to US$8.3 billion, and earnings from operations to be 16 cents
share. The earnings guidance matches Wall Street forecasts, First Call said. |
