Nortel Reports Results for the Fourth Quarter 2007
Description: Nortel hosted a teleconference/audio webcast with the investment community.
- Achieved fourth quarter Operating Margin (OM)(a) of $244 million, an increase of 339 basis points compared to 2006 and achieved full year OM of 3.7 percent, the highest since 2000
- Fourth quarter revenues increased 2 percent, excluding the impact of the UMTS divestiture(b). Revenues in the fourth quarter decreased by 4 percent, including UMTS compared to 2006 and increased 18 percent sequentially
- Nortel expects 2008 revenues to grow in the low single digits and OM to increase by about 300 basis points compared to 2007
- Outlined the next phase of Restructuring as part of the previously announced Business Transformation program
- Non-cash charge of $1.1 billion to increase the valuation allowance against the Canadian Deferred Tax Asset primarily due to changes in Canadian tax profile
- Completed remediation of the remaining material weakness
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Mike
Zafirovski,
President & Chief Executive Officer |
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Pavi Binning,
Chief Financial Officer
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Janet Craig, Vice President, Investor Relations
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Webcast
Be sure to test your ability to participate in a streaming media event. If you do not have RealPlayer (version 8 or higher), download Free RealPlayer.
Documentation
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Audio Conference Replay
| North America: |
1-800-408-3053 |
| International: |
1-416-695-5800 |
| Passcode: |
3252006# |
Investor Contacts
Investor Relations
Nortel
(888) 901-7286
(905) 863-6049
investor@nortel.com
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