Nortel Mum on Outlook

For 2008, Nortel's revenues were 10.42 billion US dollars, down 5% from 2007. After a major "deferred tax asset adjustment" and goodwill write-down, the Toronto-based company also reported a net loss for 2008 of 5.80 billion US dollars compared to a net loss of 957 million for 2007. Blaming limited industry visibility, continued global economic uncertainty and work taking place on a comprehensive restructuring plan under creditor protection filings, Nortel said it won't provide forward-looking guidance.

However, the company did say that lower demand for wireless equipment and "enterprise solutions" meant orders were 2.64 billion US dollars for the fourth quarter of 2008 compared with 3.24 billion for the fourth quarter of 2007 and 2.02 billion for the third quarter of 2008. source: Nortel statement.