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Nortel backs 2008 outlook

AP ONLINE
Posted: 2008-06-11 07:22:00

NEW YORK (AP) _ Telecommunications equipment maker Nortel Networks on Wednesday stood by its 2008 outlook at an investor meeting.

Nortel said it continues to expect revenue growth in the low single digits compared with 2007. It also expects gross margins of around 43 percent and operating margin improvement of 3 percentage points over 2007.

Analysts polled by Thomson Financial on average expect revenue to grow about 2.4 percent this year to $11.21 billion.



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