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Technology Stocks : Nortel Networks (NT) -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (4360)	1/25/2000 6:40:00 PM
From: Mighty Mizzou	Read Replies (3) \| Respond to of 14638

Did NT miss their number? Can anyone confirm? The Wall Street Journal Interactive Edition -- January 25, 2000 Tech Center Nortel Networks' Profit Misses Estimates as Revenue Rises 21% An INTERACTIVE JOURNAL News Roundup BRAMPTON, Ontario -- Nortel Networks Ltd. posted net income that fell just short of Wall Street's estimates, despite a surge in revenue and lower tax rates. The company also announced a 2-for-1 stock split. Under U.S. accounting standards, the maker of networking and telecommunications equipment reported net income of US$178 million, reversing a loss of US$143 million a year earlier. After the payment of preferred dividends, the profit applicable to common shares was 12 cents apiece, reversing a year-earlier loss of 11 cents. Excluding charges related to acquisitions and other one-time items,the profit applicable to common shares was 44 cents a share. Analysts surveyed by First Call/Thomson Financial were expecting a profit of 45 cents a share. Revenue, meanwhile, rose 19% to US$6.57 billion from US$5.52 billion a year earlier. The healthy revenue growth comes as traditional phone companies and upstarts alike are spending billions to build or upgrade networks to handle large volumes of Internet traffic. They also are looking for ways to consolidate voice, video and data traffic on a single network for cheaper delivery of communications services. Revenue in Nortel's carrier segment -- which includes fiber-optic gear and high-speed Internet-access gear -- increased 31%. But the company said its enterprise-segment revenue decreased in the quarter primarily due to lower data-networking revenue. The company's effective tax rate fell to 23.9% from 35.5% a year earlier.