Talk about rising from the dead. Nortel (NT) smoked estimates and reported its first full year profit since 1997 and the stock is on fire. I didn’t think they would make it, but lo and behold they did.
I do not hold any positions in NT stock.
4 thoughts on “Good for them”
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How can a company go 7 years without making a dime…? Must have been alot of R&D.
I am not that up on NT but I think I remember something about the Canadian govt. if not bailing them out at least giving some kind of assistence back in the depth of the tech recession. Might an interesting thing to study.
Scott, like the rest of us when revenue takes a dive : cash reserves, reducing costs and financing. The latter through convertible bonds, the corporate equivalent of credit card debt…
Lucent is also making a come-back.
I was actually surprised there were still employees in that company.
Volatile play though. Probably reflects the concentration of their portfolio of customers. I think Verizon represents 20% of their revenue.