MRV Communications (MRVC) opinions? Message Board

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Technology Stocks : MRV Communications (MRVC) opinions?

MRVC 9.975

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Aug 15 5:00 PM EST

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To: NDBFREE who wrote (29757)	2/15/2001 4:40:36 PM
From: Greg h2o	Read Replies (1) of 42804

ummmm....for those who haven't seen it, yet... NT is pissing on our cornflakes, again (sorry for the NY vernacular): Thursday February 15, 4:24 pm Eastern Time Nortel cuts forecasts, sees deeper U.S. downturn TORONTO, Feb 15 (Reuters) - Nortel Networks Corp. (NYSE:NT - news) on Thursday ratcheted down its forecast for growth in revenue and earnings per share for 2001 by about half to the 10 to 15 percent range, saying the economic downturn in the United States will continue well into the fourth quarter. The telecommunications equipment maker said its revenues in the first quarter of 2001 will be $6.3 billion with a loss per share of 4 cents. Overall market growth for telecommunications equipment is expected to slow to about 10 percent in 2001, and some U.S. customers are delaying spending longer than originally anticipated, Nortel chief executive John Roth said in a statement. Nortel said it would slash its workforce by 10,000 employees in 2001, up from an earlier announced total of 6,000 in an attempt to optimize profitability.

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