[May 03, 2008] INDEX:Business, Hardware, Software Tweet (Broadcast News Via Acquire Media NewsEdge) TORONTO _ First-quarter-losses at Nortel widened to 138 (m) million dollars U-S from 103 (m) million U-S a year ago on restructuring costs, foreign exchange rates and a patent lawsuit settlement. Revenue rose 11 per cent to 2.76 (b) billion dollars U-S, up from 2.48 (b) billion, boosted by deferred sales associated with a contract in an LG-Nortel joint venture. On a per share basis, the loss amounts to 28 cents, compared to a loss of 23 cents a year ago. Excluding special charges, the loss amounts to five cents per share. Analysts surveyed by Thomson Financial were expecting a loss of 14 cents per share and revenue of 2.5 (b) billion. The Toronto-headquartered global telecommunications equipment maker says it is on track to meet full-year goals thanks to strong operational progress in margins combined with steady revenue growth. Nortel's operating margin, a key measure of its turnaround plan, was 4.7 per cent in the first quarter, increasing by 512 basis points compared to the year-ago quarter. (The Canadian Press) Copyright ? 2008 The Canadian Press [ Back To TMCnet.com's Homepage ]