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Strong sales push High Speed Access past estimates

High Speed Access topped analysts' estimates in its first quarter Wednesday, losing $27.7 million, or 51 cents a share, on sales of $2 million.

A survey of analysts by First Call Corp. predicted the high-speed Internet access provider would lose 53 cents a share in the quarter.

Its shares closed up 1 3/4, or 21 percent, to 10 1/8 ahead of the earnings report but moved up to 11 1/16 in after-hours trading.

The $2 million in sales marks a 567 percent jump from the year-ago quarter when it lost $113.8 million, or $18.35 a share, on sales of $300,000.

"We begin 2000 with a solid foundation for continued growth," said CEO Dan O'Brien in a prepared release.

High Speed Access (Nasdaq: HSAC) shares hit a 52-week high of 49 3/16 in July before swooning to a low of 5 3/8 in April.

All four analysts tracking the stock rate it either a "buy" or "strong buy."

Analysts expect it to lose $1.98 a share in the fiscal year.