Teligent (Nasdaq: TGNT) lost less than analysts expected in the first quarter.
After market close Tuesday, the provider of wireless communications services reported a first quarter loss of $156 million or $3.02 a share. First Call consensus predicted a loss of $3.14 per share.
First-quarter revenues jumped to $23.1 million, above some analysts' expectations, compared with $1.5 million a year ago. Sales jumped 50 percent over the $15.5 million recorded in the previous comparable quarter.
Teligent ended the first quarter with 17,647 customers, up nearly 20 percent from the end of the fourth quarter. It added 58,000 new telephone lines, bringing its total lines to more than 286,000.
The company completed construction of its core Internet infrastructure, with major data centers operating in Washington, D.C. and Chicago. A third data center in the San Francisco area will go online in the coming weeks.
new customers taking data services grew by 80 percent over the fourth quarter. Nearly 50 percent of new customers took local service, 90 percent took long distance and nearly half took a bundle of services, the company said.
Also Tuesday, Teligent announced an agreement with Level 3 Communications Inc. (Nasdaq: LVLT) that gives Teligent access to national and metropolitan fiber-optic network facilities.
Other companies reporting quarterly results Tuesday:
Xybernaut (Nasdaq: XYBR) reduced its loss per share while more than doubling revenue in the first quarter.
The maker of software and equipment for wearable computers saw a first quarter net loss of $4.5 million, or 13 cents per share, compared to a year-ago loss of $4.2 million, or 19 cents per share.
First quarter revenue increased to $1.5 million from $654,163 a year earlier.
Lernout & Hauspie (Nasdaq: LHSP) exceeded analyst expectations in the first quarter.
The provider of speech and language recognition technology reported first quarter earnings of $12.2 million, or 19 cents per share, excluding one-time events. First Call consensus predicted a profit of 15 cents per share.
Including an unrealized currency exchange gain of $4.2 million, Lernout & Hauspie earned 37 cents per share.
First quarter revenue increased to $110.7 million, up 57 percent year-over-year. Lernout & Hauspie's technologies and solutions unit generated $58.9 million of revenue, including $31 million from telephony and enterprise solutions.
The company's applications division saw revenue of $28 million. Lernout & Hauspie's globalization and Internet translation division reported $23.8 million in revenue.>