Computer-aided design failures contribute to delay of three nuclear subs, $1.57 billion shortage.
Nextlink Communications posted a fourth-quarter net loss of $192 million, or $1.57 per share, including a restructuring charge of $30.9 million related to relocation costs. The loss is wider when compared with a net loss of $96.5 million, or $1.03 a share, for the same period a year ago. Wall Street expected a loss of $1.47, according to First Call. Quarterly revenue increased to $90 million from $43.3 million a year ago. Nextlink recently moved from Washington to Virginia.
Cablevision posted a first quarter net loss of $238.6 million, or $1.57 a share, compared with a net loss of $27.2 million, or 23 cents for the same period last year. Financial analysts expected a loss of $1.77 a share, according to First Call. Quarterly revenue for the period ended March 31 increased to $933.7 million from $675.7 million a year ago. Executives said the company had strong growth in its cable, commercial telephone, and national programming businesses.