DSL.net, Inc. (Nasdaq: DSLN) said Friday its first quarter loss was 33 cents a share, topping First Call Corp.'s projected loss of 35 cents a share.
Shares in the a provider of high-speed Internet services over digital subscriber line (DSL) closed at 12 13/16 Thursday. The stock took off in March after it forged a deal with Covad Communications (Nasdaq: COVD).
Net loss of $18.3 million for the quarter, or 33 cents a share, compared to a net loss of $9.9 million, or 21 cents a share in the fourth quarter of 1999.
Revenue for the first quarter was $1.7 million, up 114 percent from the previous quarter. Recurring service fees accounted for over three-quarters of DSL.net's total revenue. Earnings before interest, taxes, depreciation, amortization, and non-cash stock compensation (EBITDA) were negative $15.9 million, compared to a loss of $9.1 million for the fourth quarter of 1999.
Among other earnings news Friday:
Shares in chip maker for the communications industry closed at 26 1/16 Thursday.
Profitability for the year was up by 49 percent, semiconductor sales for the final quarter increase 35 percent, gross margin for the quarter was up to 53 percent and order backlog increased to $280 million and R&D spending increased.
Revenue from continuing operations for the quarter reached $372.7 million, up 13 percent from the same period last year. For 2000, revenue from continuing operations reached $1.4 billion, up 7 percent from $1.31 billion in 1999.
Adjusted net income for the quarter was $42.6 million, or 37 cents a share, up 177 percent from 1999's comparable quarter. The improvement is due to growth in the semiconductor business and strength of the systems business, the company said. For fiscal 2000, adjusted net income improved by 49 percent to $119.3 million, or $1.01 per share.
Shares in the provider of paging and other wireless messaging services closed at 7 1/16 Thursday, well below their 52-week high of 17 3/16.
Net revenue for the quarter was $132.3 million. Operating cash flow (EBITDA) was $36.1 million. The company also reported quarterly net subscriber additions of 61,924.
The company said an endorsement of its plans in the wireless messaging and data industry came from the exchange of AT&T Wireless' (NYSE: AWE) convertible preferred stock into its common stock, and equity investments totaling $51 million by Aether Systems (Nasdaq: AETH) and PSINet (Nasdaq: PSIX). The AT&T transaction resulted in Metrocall recording a gain of $78.6 million during the quarter, which led it to post earnings of 58 cents a share for the quarter. Without the one-time gain, the company posted a loss of $1.04 per share, as compared to a loss of $1.05 per share in the same quarter a year ago.