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TABLE OF CONTENTS
PART I
i
ITEM 1.
Business 1
Overview 1
Developments in 2003 and 2004 2
Networking solutions 5
Wireless Networks 6
Enterprise Networks 9
Wireline Networks 11
Optical Networks 14
Sales and distribution 17
Backlog 17
Product standards, certification and regulation 18
Sources and availability of materials 18
Seasonality 19
Strategic alliances, acquisitions and minority investments 19
Research and development 20
Intellectual property 20
Employee relations 21
Environmental matters 22
Financial information by operating segment and product category 22
Financial information by geographic area 22
Working capital 23
Risk factors 23
ITEM 2.
Properties 24
ITEM 3.
Legal Proceedings 25
ITEM 4.
Submission of Matters to a Vote of Security Holders 29
PART II
ITEM 5.
Market for the Registrant’s Common Equity and Related Stockholder Matters 29
Securities authorized for issuance under equity compensation plans 29
Dividends 30
Canadian tax matters 30
Sales of unregistered securities 30
ITEM 6.
Selected Financial Data (Unaudited) 31
ITEM 7.
Management’s Discussion and Analysis of Financial Condition and Results of Operations 35
Business overview 37
Developments in 2003 and 2004 41
Results of operations — continuing operations 54
Results of operations — discontinued operations 72
Liquidity and capital resources 73
Off-balance sheet arrangements, contractual obligations and contingent liabilities and commitments 80
Application of critical accounting estimates 82
Accounting change and recent accounting pronouncements 89
Market risk 91
Equity price risk 92
Environmental matters 92
Legal proceedings 93
Risk factors/forward looking statements 93
ITEM 7A.
Quantitative and Qualitative Disclosure about Market Risk 111
ITEM 8.
Consolidated Financial Statements and Supplementary Data 112
ITEM 9.
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 113