Nortel says wireless momentum good in second quarter
Lists operator contracts and HSDPA trials
Nortel said contracts for the provision of high speed data services and voice and data 3G networks contributed to a second qaurter in which revenues were up 10% on last year.
The company reported Q2 2005 revenues of $2.86 billion, up year over year 10%, and Q2 2005 net earnings of $45 million compared to net earnings of $16 million in the second quarter of 2004 and a net loss of $49 million in the first quarter of 2005.
In EMEA the three months ended June 2005 generated $721 million compared to $643m for the 2004 period. The six months figure was $1,443 million compared to $1,239m in the first half of 2004.
"Our results demonstrate progress against our strategic plan. I am pleased that our strategic objectives of cash, costs and revenue combined with a strong focus on our business operations and execution are delivering solid results," said Bill Owens, vice chairman and chief executive officer, Nortel.
"We are playing to win, and Nortel's commitment is to long term value, not just short term gain. This should be apparent as we continue to increase our investment in our enterprise business, evolve our product portfolio and build new businesses. We are driving our investment strategy to maintain our technology and market leadership in our chosen markets around the world."
Owens emphasised that the improved results demonstrated that "business is building and results are headed in the right direction."
Nortel listed among recent highlights wireless contracts with Bell Mobility, Orange France, Telefónica Móviles España, SaskTel Mobility, Telesur, and Liberia's Cellcom.
There was also evidence of "continued technology leadership" with High Speed Downlink Packet Access (HSDPA) wireless broadband live network trials with Partner in Israel and BB Mobile in Japan. Nortel has already worked on HSDPA trials and deployments in 2005 with mm02, Orange, Vodafone and mobilkom austria.
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