Nortel Networks Corp - News in Brief - Q4 2001 loss - Brief Article

CommunicationsWeek International, Feb 4, 2002

Nortel Networks Corp. reported a loss of $506 million for the fourth quarter of 2001, compared with a profit of $830 million a year ago. Although the $3.46 billion reported in sales was slightly higher than company guidance, it was far below the $8.8 billion posted for sales in the fourth quarter of 2000.

The company noted weaknesses in all product areas, in particular in the wireless equipment area, where sales slipped 21% over last year--although it did say that sales of metro optical equipment rose 8% from the third quarter.