Check the news release below.. It clearly states that street was expecting a loss of 86 cents. So excluding one time charge ATON beat the street estimate by about 40 cents...
Alteon 1st qarter loss widens; sales up 149 pct
PALO ALTO, Calif., Oct. 26 (Reuters) - Alteon WebSystems Inc., which makes networking gear that speeds the performance of Web sites, on Tuesday reported a fiscal first-quarter loss, although sales rose 149 percent.
In its first quarter as a publicly traded company, the San Jose, Calif.-based firm posted a loss of $12.1 million, or $1.20 a share, wider than the $2.50 million, or 39 cent a share, loss a year ago. Sales rose to $12.7 million from $5.1 million a year ago and surged 62 percent from the $7.9 million posted in its fourth quarter.
Alteon <ALTO.O> is one of among a handful of networking start-ups that have staged phenomenally successful initial public offerings in recent months, as investors seized on networking concerns as the hottest IPOs. During the quarter, high-flying Alteon added 135 customers, including publisher CMP Media and DLJdirect, the online brokerage arm of Donaldson, Lufkin and Jenrette Corp.
Excluding a $7.6 million expense for stock options grants to consultants, Alteon made a loss of $4.5 million, or 45 cents a share. That figure beat the operating loss expecting by analysts of 86 cents a share, according to First Call/Thomson Financial, which tracks company results.
Alteon shares fell 1-1/16 to 77-3/8 on the Nasdaq Tuesday. The stock almost quadrupled in its first day of trading on Sept. 24 after selling 4 million shares at $19 each to raise $76 million. The stock subsequently traded as high as 122-1/2.
Internet concerns such as Yahoo! Inc. Microsoft Corp.'s WebTV Internet service and others use Alteon products to help manage Web traffic and boost performance. |
