Nortel delays financial report--again

By Marguerite Reardon
Posted on ZDNet News: Oct 28, 2004 2:23:00 PM

Nortel Networks, which has been embroiled in an accounting scandal since the spring, has again delayed restating financial results for the first half of 2004 and all of 2003.

The announcement on Wednesday marks the third time that Nortel has pushed back releasing these results. The telecommunications equipment maker had planned to release full financial results for the first half of 2004 and for all of 2003 by the end of October. But now, Nortel said, full financial results for those two periods will be ready some time in mid-November.

In addition, the company said Wednesday that it plans to release preliminary results for the third quarter of 2004 in December.