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Create amortization schedule in Excel for fixed-rate loan.
This super-fast application amortizes loan over the term of the loan. This is a flexible application applicable to most consumer loans. After loan...
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Video-compression provider On2 Technologies says it has slashed its staff by 40 percent, citing financial woes. On2 said last week's layoffs were made because of a likely reduction in the amount of the financing the company could receive under its equity line of credit as a result of a weakness in the company's stock price. On2 said it had $1.2 million in first-quarter revenue. Its $700,000 monthly operating costs, excluding depreciation and amortization, will be reduced to $400,000 as a result of the layoffs. On2 said most positions were cut in support, business development and marketing. The company has 30 remaining employees. Last month, New York-based On2 unveiled plans to blend its video codec with Ogg Vorbis, a royalty-free alternative to the MP3 format. The company has also released updated versions of its technology VP4 and VP5, which On2 licenses and still remains to be a source for its revenue.
PurchasePro announced Thursday that it has raised $6 million from private investors in a placement of common stock and warrants to purchase common stock. The placement requires that the company issue 9,230,770 shares of stock at $0.65 each and 1,384,615 warrants to purchase shares of stock at $1.00 each. The deal increases the number of company shares by 13.6 percent. The business-to-business e-commerce software maker believes that it will not need future outside funding, and its CEO Richard Clemmer said in a statement that he expects the company "to be EBITDA (earnings before interest, taxes, depreciation and amortization) positive by spring and to generate cash by the fall." PurchasePro secured $15 million last December through a stock sale to Fusion Capital Fund.
Satellite TV and Internet access provider Hughes Electronics reported fourth-quarter revenue of $2.28 billion on an operating loss of $179 million before interest, taxes, depreciation and amortization. In the year-ago quarter, the operator of DirecTV generated revenue of $2.06 billion on a loss of $121 million. The company expects revenue of between $2.0 billion and $1.95 billion in the first quarter, compared with $1.89 billion the company posted in last year's first quarter. On the bright side, Hughes' DirecTV satellite unit grabbed 405,000 more customers in the fourth quarter to bring its total subscribers to 10.7 million from the 9.5 million customers attained at the end of last year's quarter. The company is also seeking to merge with rival satellite TV provider EchoStar Communications, a union that faces considerable antitrust scrutiny from government regulators.
Drugstore.com reported on Tuesday a third-quarter net loss of $26.2 million, or 39 cents per share, on $35 million in revenue, helped in part by a $7.5 million gain related to a renegotiation of its contract with Wellpoint Health Networks. Amazon.com-backed Drugstore.com lost $45.7 million, or 80 cents per share, on $26.5 million in revenue in the same quarter last year. On a pro forma basis, which excludes the gain, amortization of goodwill and certain noncash expenses, the online pharmacy lost $15.4 million, or 23 cents per share. Wall Street analysts, three of whom were surveyed by First Call, projected Bellevue, Wash.-based Drugstore.com would post a pro forma loss of 25 cents per share.
Williams Communications Group missed first-quarter estimates by a wide margin, as its loss widened substantially from a year ago. Williams, which operates a fiber-optic network, reported a net loss of $306 million, or 65 cents per share, on sales of $276.1 million, compared with a loss of $121 million, or 26 cents per share, in the year-ago quarter. Analysts had expected the company to report a loss of 55 cents per share, with sales of $277.7 million, according to First Call. Earnings before interest, taxes, depreciation and amortization were $6 million. But that figure includes a $50.6 million gain from investments. Williams said it continues to see strong demand for bandwidth services despite a slowing economy.
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.
Internet media company About.com has reported a fourth-quarter loss, excluding noncash compensation, goodwill amortization and merger related costs, of $4.1 million, or 21 cents per share, on revenues of $34.2 million. Analysts had expected a loss of 8 cents per share, according to First Call. That compares with a loss of $8.3 million, or 57 cents per share, on revenues of $13 million in the same period in 1999. In October, About.com announced it would merge with Primedia; the deal is expected to close at the end of the month.
National ISP Verio reported first-quarter revenue of $21.2 million, up from the $4.4 million a year ago. Net loss was $28.4 million, which included a one-time $10.1 million noncash charge in connection with refinancing some senior notes, as well as depreciation and amortization expenses of $6.4 million from acquisitions and investments in capital assets. A year ago, Verio reported a loss of $4.7 million.