Nortel Buzzboard

Earlier this week, Network World’s Jim Duffy did a video interview with Joel Hackney for Network World TV. Jim asked Joel about Nortel’s new Virtualization Solution and any plans we have for partnerships in the virtualization market, our claims of performance and energy effiiciency advantages in the enterprise data space, and how a possible recession in the U.S. economy may impact Nortel’s Enterprise Solutions business.

See below for the video, which is a little over seven minutes long.

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There has been a lot of coverage of Nortel’s 1Q08 earnings news today, so I figured I’d pull a couple of the more informative articles together for your reading pleasure:

Reuters has this article, which includes comments from several investment analysts, and includes Mike Z’s comments on CDMA revenues.
Bloomberg’s article has some additional details on how Nortel’s results compared to analyst estimates, and includes some details on the LG-Nortel business.
The Toronto Star has this article that includes multiple quotes from Mike Z.
This Ottawa Citizen article includes details on Nortel’s performance in Asia.
All About Nortel pulls together various comments on the results.
Fortune’s Daily Briefing blog compares Nortel’s outlook to that of Alcatel-Lucent’s.
ADDED: On Rich …

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Earlier today, Nortel issued our 1Q08 financial results.  The quick summary of the news is as follows:

Revenue in the first quarter of $2.76 billion, up by 11 percent year over year
Gross margin in the first quarter of 41.6 percent, up 120 basis points year over year
Operating margin in the first quarter of 4.7 percent, up 512 basis points year over year.
Cash balance, as at March 31, 2008 of $3.22 billion.

One item that you might have questions on from the news was the fact that LG-Nortel was mentioned as contributing to our strong first quarter revenue number.

Specifically, Mike Z stated in the release that “Nortel had a strong first quarter, driven by the completion of a contract in our LG-Nortel joint venture and continued …

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This morning Nortel reported 1Q08 financial results.  Below are a few snippets from the official release.  More comments, news round-ups and analysis coming on this blog as we go through the day.

Again - for the full Nortel financials press release go to this link: http://www2.nortel.com/go/news_detail.jsp?cat_id=-8055&oid=100239838&locale=en-US

Revenue in the first quarter of $2.76 billion, up by 11 percent year over year, which included a release of deferred revenue associated with the completion of a significant contract in the LG-Nortel joint venture that was previously expected to occur in the second quarter.
Gross margin in the first quarter of 41.6 percent, up 120 basis points year over year
Operating margin in the first quarter of 4.7 percent, up 512 basis points year over …

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