Williams Communications Group, Inc. (NYSE: WCG) reported Tuesday a first quarter loss of 21 cents a share, much narrower than the loss of 47 cents a share predicted by First Call.
Shares were up 1/4 to 37 3/4 following the news.
Revenue was $533.4 million, compared to $502.2 million in 1999's first quarter, reflecting continued growth in sales of network capacity.
Williams Communications' earnings before interest, taxes and amortization of goodwill (EBITA) loss was $14.5 million and a loss before a change in accounting principle was $96.2 million or 21 cents per share for the first quarter. Without the change in accounting, net loss for the quarter was $121.6 million or 26 cents per share.
Among other earnings Tuesday:
The stock was down 1/4 to 4 1/4 Tuesday.
Ashford.com reported a loss of 30 cents a share, compared to First Call's expected loss of 32 cents a share. For the fiscal year, net sales of $39.9 million, were up 573 percent increase over the prior year. Net sales for the quarter ended March 31, increased 377 percent to $11.8 million from $2.5 million during the prior year. Excluding non-cash depreciation and amortization, net loss during the quarter was $13.3 million, or 30 per share, compared to $1.0 million, or 5 cents a share, during the same quarter the prior year. Net loss was $41.3 million, or 92 cents a share.
The company said its partnership with Amazon.com has lowered customer acquisition costs, and, coupled with improving gross margin through our expansion into more profitable categories, it plans to reach profitability for the fourth calendar quarter of 2001.
Shares in the company fell 1/32 to 2, well below their 52-week high of 22 3/4; the stock has fallen as interest rates have risen.
Revenue of $10.2 million compared to revenue of $15.9 million for the first quarter of 1999, and a net loss of $12.8 million, or 30 cents a share, compared to $4.1 million, or 44 cents a share in the first quarter of 1999.
Results reflect a restructuring to an all-Internet business-to-business model, Mortgage.com said.
Shares in the U.S. Internet service provider, which serves smaller markets and rural communities rose 3/16 to 7 3/16 Tuesday.
Revenue grew to $39.8 million, up 104.1 percent over the same period last year, as subscriber growth and revenue boomed. EBITDA loss was $5.4 million, excluding a $7.2 million restructuring charge for severance and facility related expenses. Loss has widened since the loss of $3.9 million for the fourth quarter of 1999, and $1.7 million for the same period last year.
Shares dropped 5/16 to 13 5/8 Tuesday.
Revenue shrunk to $459.7 million, compared to revenue of $517.5 million during the same period last year. Net loss was 22 cents a share was reported, excluding restructuring and other one-time charges. Restructuring and other related charges of $26.3 million, reduced earnings by 17 cents a share on an after tax basis, resulting in a reported loss of $39.5 million, or 39 cents a share.
The company said it made measurable progress in its restructuring efforts for the quarter, gained market share and strengthened its core technologies.