Tech Industry

Phone.com tops 1Q estimates

Phone.com, Inc. (Nasdaq: PHCM) said Wednesday revenue for its first quarter was up 444 percent over last year's comparable quarter, and loss was 13 cents a share, less than First Call's expected loss of 20 cents a share.

Shares in the provider of software for delivering Internet-based information services via wireless telephones closed down 10.38 to 83.69 Wednesday.

Net loss excluding amortization of goodwill and other intangibles and stock-based compensation was $10.4 million, or 13 cents per diluted share. Including expenses, net loss was $166.2 million, or $2.02 per diluted share, compared to a net loss of $4.9 million, or 8 cents per diluted share, for 1999's first quarter.

First quarter revenues increased 62 percent to $46.5 million from $28.7 million in the fourth quarter of fiscal 2000, and increased 444 percent from $8.5 million in the same period a year earlier.

As of Sept. 30, 2000, the company had cash, cash equivalents and short-term investments of $418.1 million, excluding $20.7 million set aside as restricted cash, total assets of $2.0 billion and stockholders' equity of $1.9 billion. Deferred revenues increased during the first quarter to $99.9 million, up from $77.3 million at June 30, 2000.

The first quarter strong in terms of the number of users, which increased to over 6.9 million from 4.1 million as of June 30, and the broadening of the company's product line, Phone.com said.