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NT’s Q4 Results, Stock Plans
By Mark Evans | April 29, 2006
Does it surprise anyone that Nortel decided to issue its fourth-quarter results on Friday long after the markets closed? It's a class P.R./I.R. technique to avoid getting media coverage. In any event, the company said it lost $2.6-billion last yea (including $2.5-billlion make a couple pesky class-action lawsuits go away), compared with a $207-million loss in 2004. Revenue was $10.5-billion compared with $9.5-billion. Nortel also said it has adjusted $1.5-billion of revenue over the past three years - nearly $300-million more than what it had targeted just a week ago. Nortel's also found a way to get its stock price over $5: a reverse stock split that could see shareholders approve a consolidation as high as 10 for 1. If you think about about, Nortel could get its stock back to the record high of $124.50 (July 2000, John Roth's the CEO, sales are booming) by doing a 1:30 stock split.
Topics: Financials, Stock |