Innovation at Galway R&D centre recognised by Nortel
JUNE 19, 2006, GALWAY - Nortelís* [NYSE/TSX: NT] major R&D facility in Galway has been identified for corporate recognition by the firmís headquarters in Canada. Twenty-three inventors at the Galway facility today received a total of 61 Nortel patent awards for recently issued patents or patent applications filed. A number of the actual patents achieved by Nortel Galway R&D staff are now in successful commercial use by the global corporation.
Nortelís EMEA Chief Technology Officer, Geoff Hall, flew into Galway today to present employees with certificates and plaques marking their significant research and development achievements.
Nortel employs 300 people in Galway, over 150 of who are directly engaged in R&D activity. The percentage of filings from this cohort of staff is considered to be very high by any industry standards. It takes up to three years for a patent filing to be assessed and subsequently granted by the relevant authorities.
ďCustomer focused innovation by Nortel is driving all major developments in the global communications arena,Ē said Hall. ďThe innovative nature and exploratory work of our research and development team in Ireland is creating significant customer value for Nortel. Many of these ongoing patent awards and filings cover fundamental solutions which will be core to the future of communications networks in Ireland, Europe and the world.Ē
Nortelís breadth of R&D investment in technology innovation is reflected in the companyís patents portfolio. At year end 2005, Nortel held 3,877 US patents and 4,972 patents in other countries. These cover standards-essential, standards related and other core solutions in areas such as broadband wireless and mobile technology (CDMA, UMTS, GSM); telephone calls over the Internet (VoIP); advanced optical networks (SONET/SDH); and new carrier Ethernet technologies.
Since 2000, Nortel has consistently been ranked among the Top 50 companies globally for newly issued US patents, as reported by IFI Claims, an established source of US patent data.
Expressing delight at the awards, Mike Conroy, product development leader and general manager, Nortel Ireland commented: ďNortelís facility in Galway is a world-class R&D centre where leading-edge products for corporate and enterprise customers are developed including customer contact solutions and VoIP solutions. Apart from research and development work, engineers at the Galway centre also advise upon and support the implementation of new solutions and infrastructure in customer firms. It is excellent that our work is making such an important and valuable contribution to our global corporation.Ē
Nortel is a recognized leader in delivering communications capabilities that enhance the human experience, ignite and power global commerce, and secure and protect the worldís most critical information. Our next-generation technologies, for both service providers and enterprises, span access and core networks, support multimedia and business-critical applications, and help eliminate todayís barriers to efficiency, speed and performance by simplifying networks and connecting people with information. Nortel does business in more than 150 countries. For more information, visit Nortel on the Web at www.nortel.com. For the latest Nortel news, visit www.nortel.com/news.
Web releases are intended to provide customers, shareholders and employees with additional information, background and context on events and trends affecting Nortel and the market as a whole. Breaking news and announcements will be communicated through news releases distributed by Canada Newswire.
Certain statements in this press release may contain words such as ďcouldĒ, ďexpectsĒ, ďmayĒ, ďanticipatesĒ, ďbelievesĒ, ďintendsĒ, ďestimatesĒ, ďplansĒ, ďenvisionsĒ, ďseeksĒ and other similar language and are considered forward-looking statements or information under applicable securities legislation. These statements are based on Nortelís current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which Nortel operates. These statements are subject to important assumptions, risks and uncertainties, which are difficult to predict and the actual outcome may be materially different. Further, actual results or events could differ materially from those contemplated in forward-looking statements as a result of the following (i) risks and uncertainties relating to Nortelís restatements and related matters including: Nortelís most recent restatement and two previous restatements of its financial statements and related events; the negative impact on Nortel and NNL of their most recent restatement and delay in filing their financial statements and related periodic reports; legal judgments, fines, penalties or settlements, or any substantial regulatory fines or other penalties or sanctions, related to the ongoing regulatory and criminal investigations of Nortel in the U.S. and Canada; any significant pending civil litigation actions not encompassed by Nortelís proposed class action settlement; any substantial cash payment and/or significant dilution of Nortelís existing equity positions resulting from the finalization and approval of its proposed class action settlement, or if such proposed class action settlement is not finalized, any larger settlements or awards of damages in respect of such class actions; any unsuccessful remediation of Nortelís material weaknesses in internal control over financial reporting resulting in an inability to report Nortelís results of operations and financial condition accurately and in a timely manner; the time required to implement Nortelís remedial measures; Nortelís inability to access, in its current form, its shelf registration filed with the United States Securities and Exchange Commission (SEC), and Nortelís below investment grade credit rating and any further adverse effect on its credit rating due to Nortelís restatements of its financial statements; any adverse affect on Nortelís business and market price of its publicly traded securities arising from continuing negative publicity related to Nortelís restatements; Nortelís potential inability to attract or retain the personnel necessary to achieve its business objectives; any breach by Nortel of the continued listing requirements of the NYSE or TSX causing the NYSE and/or the TSX to commence suspension or delisting procedures; (ii) risks and uncertainties relating to Nortelís business including: yearly and quarterly fluctuations of Nortelís operating results; reduced demand and pricing pressures for its products due to global economic conditions, significant competition, competitive pricing practice, cautious capital spending by customers, increased industry consolidation, rapidly changing technologies, evolving industry standards, frequent new product introductions and short product life cycles, and other trends and industry characteristics affecting the telecommunications industry; any material and adverse affects on Nortelís performance if its expectations regarding market demand for particular products prove to be wrong or because of certain barriers in its efforts to expand internationally; any reduction in Nortelís operating results and any related volatility in the market price of its publicly traded securities arising from any decline in its gross margin, or fluctuations in foreign currency exchange rates; any negative developments associated with Nortelís supply contract and contract manufacturing agreements including as a result of using a sole supplier for key optical networking solutions components, and any defects or errors in Nortelís current or planned products; any negative impact to Nortel of its failure to achieve its business transformation objectives; additional valuation allowances for all or a portion of its deferred tax assets; Nortelís failure to protect its intellectual property rights, or any adverse judgments or settlements arising out of disputes regarding intellectual property; changes in regulation of the Internet and/or other aspects of the industry; Nortelís failure to successfully operate or integrate its strategic acquisitions, or failure to consummate or succeed with its strategic alliances; any negative effect of Nortelís failure to evolve adequately its financial and managerial control and reporting systems and processes, manage and grow its business, or create an effective risk management strategy; and (iii) risks and uncertainties relating to Nortelís liquidity, financing arrangements and capital including: the impact of Nortelís most recent restatement and two previous restatements of its financial statements; any inability of Nortel to manage cash flow fluctuations to fund working capital requirements or achieve its business objectives in a timely manner or obtain additional sources of funding; high levels of debt, limitations on Nortel capitalizing on business opportunities because of credit facility covenants, or on obtaining additional secured debt pursuant to the provisions of indentures governing certain of Nortelís public debt issues and the provisions of its credit facilities; any increase of restricted cash requirements for Nortel if it is unable to secure alternative support for obligations arising from certain normal course business activities, or any inability of Nortelís subsidiaries to provide it with sufficient funding; any negative effect to Nortel of the need to make larger defined benefit plans contributions in the future or exposure to customer credit risks or inability of customers to fulfill payment obligations under customer financing arrangements; any negative impact on Nortelís ability to make future acquisitions, raise capital, issue debt and retain employees arising from stock price volatility and further declines in the market price of Nortelís publicly traded securities, or any future share consolidation resulting in a lower total market capitalization or adverse effect on the liquidity of Nortelís common shares. For additional information with respect to certain of these and other factors, see Nortelís Annual Report on Form 10-K/A, Quarterly Report on Form 10-Q and other securities filings with the SEC. Unless otherwise required by applicable securities laws, Nortel disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
*Nortel, the Nortel logo and the Globemark are trademarks of Nortel Networks.
- Contact Information
- David Silke
- Contact for Press and Analysts
- Nortel Networks
- Contact via E-mail
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.