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The bankrupt telecom-equipment company said its fourth-quarter loss widened as the weak economy led customers to lower or defer spending.
Toronto-based Nortel on Monday reported a loss of $2.14 billion, or $4.28 per share, compared with a loss of $844 million, or $1.70 per share, a year ago.
Nortel said its fourth-quarter loss included a $1.24 billion noncash write-down of its goodwill and a $951 million noncash charge to raise the valuation allowance against deferred tax assets.
When excluding one-time items such as these, Nortel earned 36 cents per share.
Revenue fell 15 percent to $2.72 billion.
