Nortel reports 4Q results

3 May 2005

Nortel Networks has reported its fourth quarter results for the period ending 31 December 2004. Sales for the three months were USD2.62 billion, compared to USD3.27 billion for the fourth quarter of 2003 and USD2.18 billion for the third quarter of 2004. The Company reported net earnings in the fourth quarter of 2004 of USD133 million, compared to USD528 million in the fourth quarter of 2003 and net loss of USD259 million. Net earnings in the fourth quarter of 2004 included USD37 million of net earnings from discontinued operations, special charges of USD81 million related to restructuring activities, and a benefit of approximately USD134 million primarily related to customer financing recovery and settlements.

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