Netpliance, the one-time maker of the i-Opener Internet appliance, said in a statement released Friday that during the first three months of the year it lost $3.3 million, or 5 cents a share, excluding results from the now-exited appliance business. Its loss from that business, which Netpliance classifies as discontinued operations, was $3.7 million, or 10 cents per share, for three months ended March 31.
The Austin, Texas-based company reiterated that it believes it has enough cash to fund its activities for at least the next 12 months, assuming no revenue and no additional funding. The company said it does not expect its new business, that of helping Internet service providers manage a network of Internet devices, to begin generating revenue until 2002. The company also said it now expects a $5.9 million net loss this year related to exiting the Net appliance business, compared with the $1 million net gain the company had previously expected, in part from a deal to sell its subscriber base to EarthLink.