Nortel Networks slashes its third-quarter loss to $105 million from $259 million a year earlier

Nortel Networks has slashed its third-quarter loss to $105 million from $259 million a year earlier. The loss amounts to two cents a share, diluted, and compares with six cents per share a year ago.

Revenue jumped 22 per cent to $2.66 billion. The company recently announced the sale of its Brampton, Ontario headquarters.