Vibaby, you're funny. But read this:
Metricom Misses Analysts' 2nd-Quarter Estimates
07/15/1999
Dow Jones On Line
(Copyright © 1999 Dow Jones & Company, Inc.)
NEW YORK -(Dow Jones)- Metricom Inc. late Thursday
reported a wider-than-expected loss for the second quarter,
citing investments in high-speed technology and right-of-way
expansion efforts.
Metricom, a Los Gatos, Calif.-provider of wireless Internet
access and technology, posted a net loss of $16.6 million,
or 86 cents a share on a fully diluted basis, compared with
a loss of $13.2 million, or 71 cents a diluted share, in the year-earlier period. Revenue increased 6.9% to $4.7 million.
The mean estimate of anlaysts surveyed by First Call was for
a loss of 80 cents a share.
Nasdaq-listed shares (MCOM) of Metricom dipped Thursday $2.75,
or 6.7%, to close at $38.25.
Up until earlier this week, shares of Metricom had been on
the rise, gaining consistently since June 21, when
MCI WorldCom Inc. (WCOM) and Paul Allen's Vulcan Ventures Inc.
each agreed to invest $300 million in the company's modem service.
The shares, which were exchanging hands at $11 a share before
the Vulcan and WorldCom announcement, touched a 52-week high
of $56.50 late last week. Also fueling the rise was news last
week that Metricom formed an alliance with Sanmina Holdings Inc. (SANM) to build networking equipment.
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