[Broadband Technologies Posts Narrowed 4th-Quarter Net Loss]
NEW YORK -(Dow Jones)- Broadband Technologies Inc. late Thursday reported a narrowed fourth-quarter loss that included a gain. However, the telecommunications-equipment concern also posted a 70% skid in sales.
Meanwhile, the company announced it signed agreements with Lucent Technologies Inc. valued at a total of $50 million over three-years.
BroadBand Technologies (BBTK), a Durham, N.C.-based manufacturer of switched digital video systems for telephone companies, said its fourth-quarter net loss narrowed to $6.1 million, or 45 cents a share, from $8.5 million, or 64 cents a share, the previous year.
Results for the latest quarter included gain of $5 million from the release of performance fees previously reserved in the amount of $5 million, or 38 cents a share.
Analysts surveyed by First Call were expecting the company to post a loss of 81 cents a share in the latest quarter.
Fourth-quarter sales tumbled to $2.3 million from $7.9 million a year ago, the company said.
Broadband said its pacts with Lucent (LU) include a development contract, an original-equipment-manufacturer agreement, an intellectual-property license, a contract manufacturing agreement and other considerations related to the resolution of outstanding contracts. |
