Nortel Networks has revealed that it will publish its restated 2003 financial results on 10 January, two months after its original restatement target. The Canadian equipment manufacturer is being forced to resubmit its accounts following the launch of an investigation into its accounting practices. It says it now expects 2003 net earnings to be 28% lower than it previously announced; this is an improvement on the 35% reduction it estimated last month. Earnings figures for previous years will also be revised. The restatement also means that revenue figures will be cut by USD430 million for 1999 and USD2.8 billion for 2000, while the figures for 2001, 2002 and 2003 will rise by USD1.5 billion, USD265 million and USD460 million respectively. Nortel expects to be able to publish its second and third-quarter 2004 results next week.