Nortel quarterly loss triples as charges weigh

Fri Aug 1, 2008 6:19am EDT
 
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TORONTO (Reuters) - Nortel Networks Corp NT.N NT.TO reported a quarterly loss that tripled from the same time last year, as restructuring charges and currency exchange issues weighed, but the telecom equipment company said it was on track to meet its 2008 targets.

Nortel said on Friday that its second-quarter loss widened to $113 million, or 23 cents a share, from $37 million, or 7 cents a share, a year earlier.

($1=$1.03 Canadian)

(Reporting by Scott Anderson; Editing by Lisa Von Ahn)