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Technology Stocks : Nortel Networks (NT)
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To: AreWeThereYet who wrote (14357)1/13/2005 12:46:34 PM
From: Qualified Opinion   of 14638
 
Andy, it reads like revenue and related costs were taken out of the boom years of 1999 and 2000 and placed in years 2001, 2002, and 2003. There seems to be $250 million of revenue permanently reversed from years 1999 and 2000 due to being uncollectible. There were crosscurrents between the years. Revenue defined by the reversal of reserves was taken out of 2003 and placed in 2002. Furthermore, there were adjustments made to income from discontinued operations.

P.S. - One should read the detail in the press releases.

Rob
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