BRAMPTON, Ontario-Nortel Networks reported its revenues for the third quarter ended Sept. 30 increased 30 percent to $5.39 billion from $4.14 billion reported for third-quarter 1998.
The company said its net earnings were $380 million, or 28 cents per share, compared with $236 million, or 21 cents per share, for the same time the previous year.
Frank Dunn, Nortel’s senior vice president and chief financial officer, said the company’s revenues are rapidly increasing.
“Given the strong quarter and our strengthening momentum in the marketplace, we now expect that our revenue growth will exceed the market growth of 14 to 15 percent by about six percentage points, and that our growth in earnings per share from operations will be faster than our revenue growth,” Dunn said.
During the quarter, Nortel said it deployed Time Division Multiple Access Internet solutions for AT&T Wireless Services Inc. in five western states, and it provided Telia in Sweden with an Internet Protocol packet network, among other deployments.
The company said it conducted several trials of General Packet Radio Service technology, including one in selected areas of Paris for Bouygues Telecom, and one in areas of London for One 2 One.
