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Updated from 11:47 a.m. EDT
Nortel Networks (NT Quote) posted a loss in the second quarter that ballooned from a year earlier and warned that the remainder of 2008 could be trying.
The Toronto-based telecom-equipment maker had a loss of $113 million, or 23 cents a share, in the second quarter. Those numbers widened from a loss of $37 million, or 7 cents, a year ago, but shrank from a first-quarter loss of $138 million, or 28 cents a share.
The loss in the second quarter included charges of $67 million for restructuring, a loss of $21 million primarily from mark-to-market losses on interest rate swaps and a gain of $34 million due to changes in foreign-exchange rates. ...
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