To: 16yearcycle who wrote (13840 ) 11/2/2000 1:17:38 AM From: pat mudge Respond to Moritz and Sagawa have been singing the same negative song for months. I honestly don't see any downgrade in guidance between the two Edgar filings. The more recent filing includes specific revenue and earnings per share numbers which weren't given on the conference call and while they're lower than Q4, they're in line with guidance for the year which is for overall growth of 30 to 35%. If Nortel were in trouble as Sagawa claims, they would have downgraded guidance for the year, and they didn't. Message 14699627 For the first quarter of 2001, consistent with historical profile trends, the Registrant expects its revenue and earnings per share from operations will be in the range of US$8.1 billion to US$8.3 billion and US$0.16 per share on a fully diluted basis, respectively. Certain information included herein is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price and product competition; the dependence on new product development; the impact of rapid technological and market change; the ability of the Registrant to make acquisitions and/or integrate the operations and technologies of acquired businesses in an effective manner; general industry and market conditions and growth rates; international growth and global economic conditions, particularly in emerging markets and including interest rate and currency exchange rate fluctuations; the impact of consolidations in the telecommunications industry, the uncertainties of the Internet; stock market volatility; the ability of the Registrant to recruit and retain qualified employees; and the impact of increased provision of customer financing by the Registrant. For additional information with respect to certain of these and other factors, see the reports filed by the Registrant with the United States Securities and Exchange Commission. The Registrant disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
