Nortel turns a profit

Like several other network equipment vendors, Nortel Networks reported third quarter earnings that included a sluggish revenue figure, but the big news for this recovering vendor is that it posted a quarterly profit of about $27 million. That net income figure is way up from the $63 million net loss the company posted during the same quarter last year.

Sales revenue came in at about $2.71 billion, lower than last year's $2.93 billion third quarter, and added to the perception that equipment vendors are in the midst of a sales slump driven largely by carrier consolidation. Though, Nortel actually blamed a manufacturing center snafu for part of its revenue decline.

For more:
- MarketWatch has this story

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