10:00 AM EST - Nortel Networks Corp. : has reported a second-quarter net loss of US$113 million in a ''challenging business environment,'' compared with a year-ago loss of $37 million. The Toronto-headquartered telecommunications equipment maker, reporting in U.S. dollars, said Friday its revenue was up 2 percent from a year earlier at $2.62 billion. The latest quarter included $67 million in restructuring charges and $21 million in mark-to-market losses on interest rate swaps, partly offset by a foreign-exchange gain of $34 million. Nortel Networks Corp.
shares T.NT are trading down $1.15 at $6.70.
