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To: Eric who wrote (58880)4/9/2002 6:54:43 PM
From: Eric  Respond to of 77400
 
Apr 9, 2002 9:00 AM PT

Nortel warns of lower sales

Nortel Networks, one of the biggest makers of telecommunications equipment, on Tuesday said that first-quarter revenue would come in below expectations, at around $2.9 billion, as customers cut back on spending in the sagging telecom industry.

Nortel, long under pressure from the meltdown in the technology and telecommunications sectors, also forecast a pro forma loss of 14 cents a share, just above forecasts of a pro forma loss of 13 cents a share from analysts surveyed by First Call.

zdnet.com.com