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To: Feathered Propeller who wrote (37330)	7/28/1999 2:26:00 PM
From: Ruffian	Respond to of 152472

Sony> THE INDEPENDENT SOURCE FOR WIRELESS INDUSTRY NEWS July 28, 1999 July 28, 1999 Sony's cellular phone sales fall TOKYO—Sony Corp. reported its net income for the first quarter of fiscal year 1999, ended June 30, dropped sharply to $152 million, a 55-percent decrease from the same quarter a year ago. Sony attributed the decrease primarily to the strong yen. By industry segment, sales declined principally in the electronics, film and game businesses, said Sony. Sales of cellular phones declined substantially, while sales of semiconductors showed a trend toward recovery, according to the company.

To: Feathered Propeller who wrote (37330)	7/28/1999 2:42:00 PM
From: H. Bradley Toland, Jr.	Respond to of 152472

Thanks for the post. Makes you wonder what MCI/Worldcom is thinking about when they see stats like that! regards brad

To: Feathered Propeller who wrote (37330)	7/28/1999 3:50:00 PM
From: Ruffian	Respond to of 152472

Nortel Reports> Nortel Has 2Q Loss After Bay Acquisition Costs By Erik Schatzker at Bloomberg News 28 July 1999 Nortel Networks Corp., North America's No. 2 phone-equipment maker, had a second- quarter loss because of costs from its purchase of Bay Networks Inc. and other acquisitions. The company lost US$138 million, or 21 cents a share. In the year-earlier period, before it acquired Bay for US$6.9 billion, Nortel had a loss of less than US$1 million, or 1 cent a share. Sales rose 13% to US$5.41 billion from US$4.77 billion, including Bay results in both periods. Nortel gained new customers and Internet technology with its purchase of Bay, helping it compete better with Lucent Technologies Inc. and Cisco Systems Inc. The company's shares surged 35% in the recent quarter, as Nortel won key contracts from AT&T Corp. and British Telecom Plc, and it unveiled new products such as Succession, which updates voice networks to handle data traffic better. "The real growth engine for Nortel this quarter was carrier sales," Chief Executive John Roth said in an interview. "Succession has made purchasing decisions easier for our customers because they know they won't be stranded" when converting to data networks from traditional voice equipment. The company also reported a profit of US$375 million, or 55 cents a share, without the acquisitions costs, which are ongoing, and other charges. On that basis, it beat the 50-cent average estimate of analysts polled by First Call Corp. and matched some unpublished forecasts, known as whisper numbers. Per-share amounts reflect the payment of preferred dividends. In the year-ago period, Nortel had earnings before acquisition costs and other charges of $219 million, or 40 cents a share. Brampton, Ontario-based Nortel reports in U.S. dollars. Sales of fiber-optic equipment climbed more than 50% for the second consecutive quarter and helped drive profit in the recent period, Roth said. Nortel is benefiting from growing demand for network capacity to handle data traffic, particularly in Asia and Europe. "The demand we've had in this business is well beyond our forecasts," he said. Other products the company said had fast-growing sales included high-capacity modems, line-traffic concentrators and high-speed wireless equipment. Sales of that whole line, which Nortel calls its access portfolio, also climbed more than 50 percent from the year-ago period. Roth said overall wireless sales rose "just shy of" 20 percent, reversing a decline in 1998 and improving on disappointing results in the first quarter. Wireless sales to Latin America, which fell 50% in the first quarter, were still weak. "We're back on track and should have a good year in wireless," Roth said. Trailing other product lines were corporate, or enterprise, sales, which rose in "single digits" to $1.33 billion with Bay results in the year-ago period included. Lucent Technologies Inc., the biggest phone-equipment maker and Nortel's main rival, a week ago said its corporate sales in the recent quarter rose 4 percent to $2.1 billion. Nortel said its acquisition costs in the quarter, which include write-offs for goodwill, acquired technology and research and development in process, came to US$509 million. They mainly covered the Bay purchase. The company also reported a pretax gain of US$57 million from selling its stake in Juniper Networks Inc. and charges of US$62 million, also pretax, from closing some operations. Shares of Nortel were unchanged at C$127.65 (US$84.35) in Canadian trading. They gained 1 11/16 to 86 1/4 in U.S. markets.