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SECURITIES AND EXCHANGE COMMISSION
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WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report
(date of earliest event reported)
November 1, 2000
NORTEL NETWORKS CORPORATION
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(Exact name of registrant as specified in its charter)
CANADA 1-7260 not applicable
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
8200 Dixie Road, Suite 100, Brampton, Ontario, Canada L6T 5P6
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(address of principal executive offices) (Zip code)
Registrant's telephone number, including area code (905) 863-0000.
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ITEM 5. OTHER EVENTS
On November 1, 2000, the Registrant confirmed its guidance for 2000 and
2001, and specifically commented on its expectations for the fourth
quarter of 2000 and the first quarter of 2001.
The Registrant continues to expect its percentage growth in revenue and
earnings per share from operations in 2000 over 1999 will be in the low
40's. The Registrant also expects its revenue and earnings per share
from operations in the fourth quarter of 2000 will be in the range of
US$8.5 billion to US$8.8 billion and US$0.26 per share on a fully
diluted basis, respectively. Overall, the Registrant expects continued
strong growth in Optical Internet, Wireless Internet, Local Internet and
eBusiness solutions. The Registrant continues to expect its Optical
Internet revenues to grow in excess of 125 percent in 2000 over 1999, to
exceed US$10 billion.
Looking forward to 2001, the Registrant continues to expect the overall
market to grow in excess of 20 percent. The Registrant also continues to
expect to grow significantly faster than the market, with anticipated
growth in revenues and earnings per share from operations in the 30 to
35 percent range. For the first quarter of 2001, consistent with
historical profile trends, the Registrant expects its revenue and
earnings per share from operations will be in the range of US$8.1
billion to US$8.3 billion and US$0.16 per share on a fully diluted
basis, respectively.
Certain information included herein is forward-looking and is subject to
important risks and uncertainties. The results or events predicted in
these statements may differ materially from actual results or events.
Factors which could cause results or events to differ from current
expectations include, among other things: the impact of price and
product competition; the dependence on new product development; the
impact of rapid technological and market change; the ability of the
Registrant to make acquisitions and/or integrate the operations and
technologies of acquired businesses in an effective manner; general
industry and market conditions and growth rates; international growth
and global economic conditions, particularly in emerging markets and
including interest rate and currency exchange rate fluctuations; the
impact of consolidations in the telecommunications industry, the
uncertainties of the Internet; stock market volatility; the ability of
the Registrant to recruit and retain qualified employees; and the impact
of increased provision of customer financing by the Registrant. For
additional information with respect to certain of these and other
factors, see the reports filed by the Registrant with the United States
Securities and Exchange Commission. The Registrant disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NORTEL NETWORKS CORPORATION
By: /s/ DEBORAH J. NOBLE
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Deborah J. Noble
Corporate Secretary
By: /s/ BLAIR F. MORRISON
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Blair F. Morrison
Assistant Secretary
Dated: November 1, 2000
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