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Short Take: Concentric Network revenue jumps 68 percent

Concentric Network, which provides DSL service and other data services, reported a second-quarter net loss, besting consensus expectations. The company lost $26.2 million, or 64 cents per share, compared to a loss of $21.5 million, or 74 cents a year ago. Revenue jumped 68 percent to $33 million from $19.7 million in the similar quarter a year ago. During the quarter, Concentric invested $5 million in NorthPoint Communications as part of a DSL agreement.

Concentric Network, which provides DSL service and other data services, reported a second-quarter net loss, besting consensus expectations. The company lost $26.2 million, or 64 cents per share, compared to a loss of $21.5 million, or 74 cents a year ago. Revenue jumped 68 percent to $33 million from $19.7 million in the similar quarter a year ago. During the quarter, Concentric invested $5 million in NorthPoint Communications as part of a DSL agreement.