Williams Communications Group missed first-quarter estimates by a wide margin, as its loss widened substantially from a year ago. Williams, which operates a fiber-optic network, reported a net loss of $306 million, or 65 cents per share, on sales of $276.1 million, compared with a loss of $121 million, or 26 cents per share, in the year-ago quarter. Analysts had expected the company to report a loss of 55 cents per share, with sales of $277.7 million, according to First Call.
Earnings before interest, taxes, depreciation and amortization were $6 million. But that figure includes a $50.6 million gain from investments. Williams said it continues to see strong demand for bandwidth services despite a slowing economy.