Nortel posts $507M loss, still mulling future

It's still unclear what Nortel Networks will look like after it emerges from bankruptcy--or even how much of the firm will come out of bankruptcy if Nortel decides to sell off some assets--but the long-time telecom vendor reported first-quarter earnings Monday that included a $507 million net loss. The company also saw revenue dive about 37 percent to $1.73 billion.

The Wall Street Journal reports that Nortel continues to pursue two paths--typical Chapter 11 restructuring, as well as potential asset sales. Nokia Siemens Networks and other firms have been viewed as possible buyers for some Nortel assets, though so far the Canadian vendor has done only limited deals, such as the sale of its former Alteon assets to Radware.

Among other moves, Nortel is said to be working on decentralizing its Carrier Sales and Global Operations functions, while also expanding its Business Services organization.

For more:
- The Wall Street Journal has this Dow Jones Newswires report

Related article
Nortel recently earned an extension of its bankruptcy protection period

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