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Short Take: PSINet reports narrower-than-expected loss

Internet and telecommunications service provider PSINet reported a narrower-than-expected loss for the fourth quarter on strong revenue numbers. Excluding charges, the company reported a loss of $53.2 million, or $1.02 per share. A consensus of analysts' estimates expected the company to lose $1.07 per share for the quarter. Revenue rose 170 percent to $93.9 million, from $34.8 million a year ago.

Internet and telecommunications service provider PSINet reported a narrower-than-expected loss for the fourth quarter on strong revenue numbers. Excluding charges, the company reported a loss of $53.2 million, or $1.02 per share. A consensus of analysts' estimates expected the company to lose $1.07 per share for the quarter. Revenue rose 170 percent to $93.9 million, from $34.8 million a year ago.