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To: nolimitz who wrote (106742)	1/29/2004 4:53:21 PM
From: nolimitz	Respond to of 208838

TORONTO, Jan 29 (Reuters) - Nortel Networks Corp. (Toronto:NT.TO - News; NYSE:NT - News), one of the world's largest telecom equipment providers, reported a stronger-than-expected fourth-quarter profit on Thursday as revenues jumped 12 percent. The Brampton, Ontario-based firm reported net income of $499 million, or 11 cents a share, for the quarter ended Dec. 31, compared with a loss of $168 million, or 4 cents per share, in the corresponding period last year. Revenues at the company, whose equipment is used to build phone, wireless and Internet networks, jumped to $2.83 billion from $2.53 billion for the fourth quarter of 2002. Analysts had expected a profit of 2 cents per share on revenues of $2.44 billion, according to Reuters Research, a unit of Reuters Group Plc. Nortel said the results included $109 million of net earnings from discontinued operations -- net of tax, charges of $14 million for deferred stock option compensation associated with acquisitions, and $9 million of special charges related to restructuring activities. Nortel had forecast fourth-quarter revenue to grow sequentially from the third quarter. It reported third quarter 2003 revenues of $2.27 billion.