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Short Take: Net2Phone posts narrower-than-expected loss

Internet telephony firm Net2Phone posted a third-quarter loss of $11.4 million, or 21 cents per share, on sales of $18.9 million. The company was expected to lose 22 cents a share, the average estimate of six analysts surveyed by First Call/Thomson Financial. Net2Phone's posted revenues represent more than a 100 percent increase over the $9 million in sales posted for the third quarter of fiscal year 1999. As of April 30, 2000, the company had over 825,000 active customers who had paid for and used Net2Phone's services during the past three months, a 43 percent increase over the prior quarter's 575,000.

    Internet telephony firm Net2Phone posted a third-quarter loss of $11.4 million, or 21 cents per share, on sales of $18.9 million. The company was expected to lose 22 cents a share, the average estimate of six analysts surveyed by First Call/Thomson Financial. Net2Phone's posted revenues represent more than a 100 percent increase over the $9 million in sales posted for the third quarter of fiscal year 1999. As of April 30, 2000, the company had over 825,000 active customers who had paid for and used Net2Phone's services during the past three months, a 43 percent increase over the prior quarter's 575,000.