Nortel Networks (NT) Message Board

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Technology Stocks : Nortel Networks (NT)

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From: waitwatchwander	3/1/2007 11:34:00 AM
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Sounds like this one has been in the cards for a few weeks. www2.nortel.com If my back of the envelop cut of the following paragraph is right, it looks like the added pension adjustments in the 2004 and 2005 periods are in the neighbourhood of $100m. I guess the money will be going into the pensions of the "Dunn et al" who got pink slipped during 2004 Restructuring Plan. During 2005, they had a lots of pension adjustments that translated into significant cash outflows. This looks like more of such and Currie takes the sword. The Company currently expects revisions to its previously reported 2006 nine month results resulting in increases in revenues and improvements in net earnings of approximately $24 million and $15 million, respectively, as well as revisions to its previously reported 2005 and 2004 financial results reflecting reductions in revenue of approximately $28 million and $33 million and increases in net loss of approximately $87 million and $42 million, respectively. With respect to financial results prior to 2004, the Company currently expects revisions reflecting negative impacts on revenue of approximately $27 million and negative impacts on net earnings of approximately $5 million, in the aggregate.

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