Telecom has reported a 39 percent drop in its third quarter profit to $97 million and a summary of the findings of an independent report into its XT mobile network. Chief executive Paul Reynolds said the report by British firm Analysys Mason was both "chastening and heartening'' revealing there were serious errors, but that XT was fundamentally sound. The network did not cope with expected traffic volumes because of operational and software issues. Analysys Mason said XT was designed to provide at least as good coverage as Telecom's CDMA network, which it was designed to supersede, but fell short. That was being addressed with extra cellsites and the addition of tower-mounted amplifiers. Read more at Computerworld.