This along with GLW announcement should help fiber sector.
Pescador
Thursday December 14, 9:35 am Eastern Time
Press Release
SOURCE: Nortel Networks Corporation
Nortel Networks Confirms Guidance for 2000 and 2001, Growth Expected at Rates 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.'' |
