Nortel Networks posts $27 million operating income for April 1-May 2

By Caroline Salls

Pittsburgh, June 1 - Nortel Networks, Inc. reported a $27 million operating income for the period of April 1 to May 2 on $250 million in total revenues, according to its monthly operating report filed Monday with the Securities and Exchange Commission.

In comparison, the company posted a $151 million operating loss for March on $477 million in total revenues.

Nortel reported a $6 million April net income, significantly better than a $3.99 billion March net loss.

The company had $781 million in cash and cash equivalents at May 2, compared with $678 million at the end of March.

Nortel, a Brampton, Ont.-based manufacturer and supplier of telecommunications networking equipment, filed for bankruptcy on Jan. 14 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 09-10138.

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