Insolvent Nortel Networks Corp. has reported a net loss of $649 million in the third quarter, compared to a $508 million loss a year earlier, as it booked numerous charges.
The former Canadian high-tech giant said it booked $529 million in reorganization costs in the three months ended Sept. 30.
The results also included $490 million in non-cash charges related to liabilities for its Canadian defined benefit pension plans.
Nortel began restructuring under bankruptcy protection from creditors nearly two years ago under the federal Companies' Creditors Arrangement Act. The company has sold almost all its operating businesses to various buyers for $3.2 billion.
The company filed for court protection from creditors in the United States, Canada and other jurisdictions in January 2009, and has since sold most of its major operations to former rivals.
At its peak during the 1999-2000 technology boom, Nortel was Canada's most valuable company after the telecom equipment maker went through several years of rapid expansion and diversification funded by debt and stock sales.
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