Nortel Networks Confirms Guidance for 2000 and 2001, Growth Expected atRates Significantly Greater Than Market
- Remains very confident in previously stated guidance for fourth
quarter of 2000, first quarter of 2001 and fiscal years 2000 and 2001
TORONTO, Dec. 14 /PRNewswire/ - Nortel Networks Corporation(a) today confirmed its expected performance for the fourth quarter 2000, fiscal year 2000, first quarter 2001 and fiscal year 2001.
"We continue to expect that our percentage growth in revenue and earnings per share from operations(b) in 2000 over 1999 will be in the low 40's, " said John Roth, president and chief executive officer, Nortel Networks. "As we enter the last two weeks of the quarter and the year, we remain very confident in our previously stated guidance. We expect our revenue and earnings per share from operations(b) in the fourth quarter of 2000 will be in the range of US$8.5 billion to US$8.8 billion and US$0.26 per share on a fully diluted basis, respectively. Overall, we expect continued strong growth in Optical Internet, Wireless Internet, Local Internet and eBusiness solutions. We continue to expect our Optical Internet revenues to grow in excess of 125 percent in 2000 over 1999, to exceed US$10 billion."
"Looking forward to 2001, we continue to expect the overall market to grow in excess of 20 percent. Given our strong market position and leadership in high performance Internet solutions, we continue to expect to grow significantly faster than the market, with anticipated growth in revenues and earnings per share from operations(b) in the 30 to 35 percent range," said Roth. "For the first quarter of 2001, consistent with historical profile trends, we expect our revenue and earnings per share from operations(b) will be in the range of US$8.1 billion to US$8.3 billion and US$0.16 per share on a fully diluted basis, respectively."
Nortel Networks is a global Internet and communications leader with capabilities spanning Optical, Wireless, Local Internet and eBusiness. The Company had 1999 U.S. GAAP revenues of US$21.3 billion and serves carrier, service provider 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, promising a new era of collaboration, communications and commerce. Visit us at www.nortelnetworks.com. |
