Nortel, citing recent discoveries in its review of financial statements, has pushed back again its restatement of earnings.

The company (NYSE: NT) said it expects to now release the reports within 30 to 60 days.

“In the course of the Company’s reviews over the last two weeks, we have found a level of revenue restatement which warrants that we undertake a deliberate, focused but bounded double-checking of several revenue areas,” CEO Bill Owens said in a statement. “We have taken this decision to postpone our filings as a prudent measure to take the steps needed to ensure that we have captured all necessary corrections and adjustments in our restated results.”

Nortel stock fell 25 cents to $3.33 in afternoon trading.

Nortel: www.Nortel.com