Nortel restates recent losses

20 Nov 2003

North American equipment manufacturer Nortel Networks has revealed plans to restate its income statements for the period between 2000 and the third quarter of 2003 after finding it had overstated costs for restructuring its business units during the telecoms downturn. The company said losses since the beginning of 2000 now totalled USD32.2 billion, down from the previously stated USD32.7 billion. It also said that sales would be reduced for 2000, 2001 and the first quarter of 2003 because revenue was included in those periods when it should have been deferred.



Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate



Filter CommsUpdate by the following categories or use the search.


Visit our help page information on performing advanced searches, including how to restrict the results by country or company.


CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.