Nortel has again pushed back restatements of earnings and also will not disclose its third quarter results until later this year, the company said Wednesday.

Restatements date back to 2001. They are part of a continuing review which has led to management changes and a series of lawsuits as well as federal investigations.

The reviews were supposed to be announced by the end of this month. Now Nortel is pointing to mid-November.

“This delay in our timeline for completing the restatement process was a very difficult decision. Our first accountability is to unquestionable quality of this restatement for our shareholders, customers and employees,” said Bill Owens, president and CEO of Nortel, in a statement.

“I was not satisfied given the enormous details and complexity involved that we would be able to meet our October deadline,” he added. “Although this delay is disappointing, we have made great progress toward completion, have continued to devote massive resources to the restatement effort and are confident that we are very close to the end of this critical chapter. Seeing that closure is close at hand leads us to be confident about moving forward with our business.”

Nortel said it would delay its third quarter 2004 results as well.

Nortel: www.Nortel.com