Nortel's carrier revenue climbed 21 percent

Nortel Networks said its first quarter revenue rose 11 percent to $2.76 billion, largely due to deferred revenue from an LG Electronics joint venture that had been projected to wrap up in the second quarter. Nortel said losses totaled $138 million, or 28 cents a share, up from $103 million, or 23 cents a share a year ago. Excluding an $88 million restructuring charge, the company said losses narrowed to $35 million.

Revenue for Nortel's carrier business, its largest unit, rose 21 percent as profits surged 68 percent; its Ethernet segment was the only one to post a drop--12 percent.

For more:
- See the Wall Street Journal story

Related:
Nortel to cut 2100 more jobs

Sponsored By Blue Planet, a division of Ciena

If You're Stuck With Static, Fragmented Legacy Inventory Systems, A Clear Path To Operational Transformation Is Here

Blue PlanetĀ® Inventory helps identify and correct discrepancies between network resources and OSS inventory.