Nortel reconfirms 2008 outlook, to offer notes |
| Reuters - May 21, 2008 |
Nortel Networks Corp (NT.TO: Quote, Profile, Research) confirmed its existing outlook for 2008 on Wednesday, and said it plans to offer $500 million in senior notes in order to redeem outstanding convertible notes due this year.
The Canadian telecom firm said it still expects 2008 revenue to grow in the low single digits from 2007. Revenue was $10.95 billion last year, down 4 percent from 2006.
It also anticipates gross margin of 43 percent of revenue, while the operating margin as a percentage of revenue is seen increasing by about 300 basis points compared with 2007.
Nortel, North America's biggest maker of telecom equipment, made the forecast in February, and restated it earlier this month.
Read Full Article from Reuters
- Posted: 2008-05-21 08:41:19
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