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ArticleNortelInternetNews - June 2, 2004 Nortel Foresees...

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Unformatted text preview: June 2, 2004 Nortel Foresees Growth, Accounting Issues Linger By Colin C. Haley Nortel ( Quote ) is increasingly optimistic about its future as it tries to shake its past, CEO Bill Owens said in a conference call today. Owens said surging demand for converged network equipment will help his company grow faster than the industry average. At the same time, the accounting scandal that chased Owens' predecessor won't be settled this quarter. The restatement of financial results for full year 2003 and the first quarter of 2004 will not be issued this quarter. The Toronto company said it could not provide a date when the process would be completed, but has hired an additional outside accounting experts to work on the project. "I assure you we are working very hard to complete the restatement as promptly as possible... We are committed to transparency and getting all the facts and getting them right" Owens said. We are committed to transparency and getting all the facts and getting them right" Owens said....
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ArticleNortelInternetNews - June 2, 2004 Nortel Foresees...

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