Nortel is now current on its financial reporting after restating years of results. Too bad it couldn't record a profitable quarter to celebrate. In the quarter ended March 31, Nortel had revenue of $2.54 billion, compared with $2.44 billion in the first quarter of 2004. Revenue was flat or down in most product segments but grew in its GSM and UMTS business. Nortel attributed most of this gain to a deal signed last year with Bharat Sanchar Nigram to build a wireless network in India. Nortel had a net loss of $49 million in the quarter after net income of $59 million a year earlier. (Read the story)

While Nortel gets its financial house in order, it is also offering a fix for a vulnerability that could let an attacker crash its VPN routers with a single malformed packet. The denial-of-service vulnerability, reported by U.K. Internet security testing company NTA Monitor, affects several models in the Nortel VPN Router line, formerly known as the Nortel Contivity line. NTA characterized the vulnerability as serious, and Nortel gave it "major priority" status. An attacker could cause the routers to reboot or tcrash by sending a single Internet Key Exchange (IKE) packet with a malformed Internet Security Association and Key Management Protocol (ISAKMP) header, according to an advisory on NTA Monitor's Web site. (Read the story)

AT&T wishes someone would issue a fix for a $1 billion contract suddenly yanked from the carrier by the Treasury Department.  The contract, awarded last December, was pulled after protests from other bidders were reviewed and sustained by the Government Accountability Office (GAO). Instead, the Treasury Department will use existing General Services Administration (GSA) programs to meet its communications requirements. In a statement, AT&T said it intends to remain "focused on how we can best meet the Treasury Department's needs for a modern, cost-effective network. With that in mind, we'll be awaiting further word on how it plans to proceed with this acquisition. We'll do what it takes to win this business again." (Read the story)