Nortel Networks operating earnings fall to $3 million in October

By Caroline Salls

Pittsburgh, Dec. 6 - Nortel Networks Inc. reported $3 million of operating earnings for October on $8 million of total revenues, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

The figures showed a decline from the $11 million of operating earnings posted for September on $14 million of total revenues.

The net loss for October was $3 million, narrowing from an $11 million September net loss.

Nortel had $906 million of cash and cash equivalents at Oct. 31, up from $897 million at the end of September.

Nortel, a Brampton, Ont.-based manufacturer and supplier of telecommunications networking equipment, filed for bankruptcy on Jan. 14, 2009. Its Chapter 11 case number is 09-10138.

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