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Short Take: Covad posts third quarter loss

Covad Communications, a wholesale provider of high-speed digital subscriber lines, posted a third quarter net loss of $54.1 million, or 70 cents a share, compared with a net loss of $16.6 million, or $1.84 a share, last year. Financial analysts expected Covad to lose 79 cents a share, according to First Call. Quarterly revenue increased to $19.1 million from $1.6 million a year ago. The company installed 31,000 DSL lines as of September 30.

Covad Communications, a wholesale provider of high-speed digital subscriber lines, posted a third quarter net loss of $54.1 million, or 70 cents a share, compared with a net loss of $16.6 million, or $1.84 a share, last year. Financial analysts expected Covad to lose 79 cents a share, according to First Call. Quarterly revenue increased to $19.1 million from $1.6 million a year ago. The company installed 31,000 DSL lines as of September 30.