Nortel Networks sees decrease in cash holdings from June to September

By Kali Hays

New York, Nov. 12 – Nortel Networks Inc. reported operating results for the months of June through September on Nov. 10 with the U.S. Bankruptcy Court for the District of Delaware.

At the end of September, the company had $658.1 million in cash, cash equivalents and restricted cash and $775.7 million in assets with debt totaling $5.3 billion.

Those numbers show a decline from August when Nortel had $669 million in cash, cash equivalents and restricted cash and assets totaling $791 million.

Nortel’s debt in August was also $5.3 billion.

In July, the company held $696.7 million in cash, cash equivalents and restricted cash, assets of $821.5 million and debt of $5.33 billion.

July showed little change from June with the company reporting cash, cash equivalents and restricted cash of $690.1 million, assets totaling $823.7 million and debt remaining at $5.33 billion.

Nortel, a Brampton, Ont.-based manufacturer and supplier of telecommunications networking equipment, filed for bankruptcy on Jan. 14, 2009. Its Chapter 11 case number is 09-10138.

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