Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Arris International PLC (ARRS) -- Ignore unavailable to you. Want to Upgrade?

To: tech101 who wrote (59)	1/29/2004 4:54:12 PM
From: tech101	Read Replies (1) \| Respond to of 661

Nortel Leaps After Earnings Blowout By Scott Moritz 01/29/2004 04:46 PM EST Nortel (NT:NYSE - news - research) soundly beat fourth-quarter estimates Thursday and said it expects to grow faster than the market in 2004. Its shares blasted higher in postclose action. The Brampton, Ont.-based telecom gearmaker posted a latest-quarter profit of $499 million, or 11 cents a diluted share. Earnings from continuing operations were 9 cents, compared to a 2-cent loss in the year-ago period. Analysts had expected earnings of 2 cents, according to a Reuters Research tally. For the fourth quarter, sales zoomed past targets at $2.8 billion, 12% above revenue for the same period last year. The Wall Street consensus estimate was $2.4 billion. Nortel says the business outlook in the current quarter, which is seasonally weak, should result in sales below fourth-quarter levels. That is in line with expectations. "While we expect that the percentage growth in the overall capital spending by our customers will be in the low single digits in 2004 compared to 2003, we expect to grow faster than the market by leveraging our particular strengths in voice over IP and wireless data solutions," CEO Frank Dunn said. Nortel shares, which closed up 1%, at $6.59, jumped to $7.41 in early aftermarket trading.