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Technology Stocks : Nortel Networks (NT)
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To: Cooters who wrote (14260)11/12/2004 8:42:15 PM
From: Qualified Opinion  Read Replies (1) of 14638
 
The last status update implies that Nortel's 2003 margins maybe better than expected. It implies a 10.5% reduction in 2003 earnings from continuing operations.

Excerpt from the last status update:

A reduction of approximately 35 percent in previously announced net earnings for 2003 (adjusted from 50 percent previously announced); the amounts of the reduction in 2003 net earnings will largely be reported in prior periods, resulting in a reduction in previously reported net losses for such periods including 2002 and 2001;
As previously announced, approximately two-thirds of the reduction in 2003 net earnings identified to date impacts the first half of 2003, with the remaining approximately one-third reduction impacting the second half of 2003;

Approximately 30 percent of the 2003 net income reductions are expected to impact the Company's continuing operations, with the remaining approximately 70 percent impacting discontinued operations (compared to the previously announced estimate of an approximately equal impact to continuing operations and discontinued operations);
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