Vendor results (1)

Nortel reported 4Q04 net earnings of $133m, down 75%, on sales of $ 2.6bn, down 22%. Mobile sales were down 11% to $1.28bn, Optics sales were down 28% to $ 266m and fixed sales were down 19% to $ 461m. For 2004, Nortel reported loss of $ 51m (vs earnings in 2003) and sales of $ 9.8bn, down 4%. 4Q04 cash balance was $3.7bn.

Tekelec earned 1Q05 profit of $6.7m (+15%) on revenues of $ 119m, up 51%.

Terayon: 1Q05 revenues were down 36% to $26.4m (50% in digital video networking applications, 44% in home access product line and 6% in CMTS). Net loss narrowed to $2.6m.

Micromuse announced 1Q05 revenues of $ 37.9m (-1%) and net income of $4.1m.

Alvarion posts 1Q05 revenues of $57m, up 28%, and net income of $0.4m, down 71%. Gross margin increased to 46%.

CAP Gemini announced 1Q05 revenues of $1.7bn, +19%.

ECI Telecom reports 1Q05 revenues of $145m (+35%) and made of $ 63m in its Broadband Access Division, and $77m in its Optical Networks Division (+47%). Net income for the quarter reached $ 10.4m (vs. loss).

RealNetworks posted 1Q05 revenues of $77M, up 27%, and net income of $0.8m (vs. loss).