Chipmaker's first-quarter revenue hits $1.18 billion, down 21 percent from last year but better than reported estimates from analysts.
Fiber-optic network company Williams Communications reported a hefty loss Monday. For the fourth quarter, the Tulsa, Okla.-based company reported a net loss of $546.6 million, or $1.18 a share, compared with a loss of $74.0 million, or 16 cents a share, in the year-ago period. First Call consensus analysts' estimate was for a loss of 48 cents a share. Williams said its earnings from continuing operations before interest, taxes, depreciation and amortization and other adjustments (EBITDA) topped estimates. The company, 85-percent owned by energy company Williams Cos., said it was confident it would meet or exceed 2001 analysts' estimates for total network revenues that range between $1.3 billion and $1.4 billion.
The maker of application development and deployment tools makes $22.8 million, or $1.18 per share, for the fiscal year, 135 percent more than the firm made in 1997.
In an effort to boost its e-commerce offerings, Hewlett-Packard says it will acquire VeriFone in a stock swap worth $1.18 billion.