John Roth Networks Quotations

We are pleased with our solid financial performance in the first quarter and especially pleased with the growing business momentum we are seeing. Demand by carriers for our data and optical networks solutions has accelerated.

Nortel Networks had another quarter of outstanding growth, which reflected our continued market leadership in key growth segments, ... In particular, our optical Internet, wireless Internet, and high-speed local Internet solutions revenue grew at rates of more than 150 percent, 18 percent, and 80 percent, respectively, over the second quarter of 1999.

While I am disappointed with our results for the second quarter, we have taken the right steps in this environment to strengthen Nortel Networks leadership position,