Nortel's $9 billion acquisition of Bay Networks has already hit its balance sheet as the Canadian telco equipment maker posts a $306 million loss in its third quarter results.
Revenues increased 18 per cent to $4.14 billion, while sales in the US, Asia Pacific, Caribbean and Latin America increased "substantially" over the quarter.
Its enterprise sector saw the biggest growth at 33 per cent, followed by 15 per cent for carrier networks.
John Roth, Nortel chief executive, said: "We currently expect to see our 1998 revenue growth from ongoing operations, including Bay Networks, to be in the mid teens. We remain confident in our ability to deliver earnings in line with our guidance."
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