good morning reb and dale... hold onto your hats... the news looks good for twtc... not only did they beat first call estimates by a mile... 2 cnt loss vs expected 15 cent loss... AN 87% SURPRISE!!
not to mention the 128% revenue growth for the quarter just ended!!
kathy :)
dailynews.yahoo.com
Wednesday February 9 7:51 AM ET
Time Warner Telecom Narrows Loss
NEW YORK (Reuters) - Time Warner Telecom Inc., which provides fiber-optic telecommunications services to business, on Wednesday reported a smaller-than-expected fourth-quarter loss and said it plans to expand into eight to 12 new markets over the next two years.
The Colorado-based company, which went public last year, said it lost $2.3 million, or 2 cents per diluted share, in the last three months of 1999, compared with a loss of $24.3 million, or 30 cents per share, in the same period of 1998.
According to First Call/Thomson Financial, which compiles analysts' forecasts, Wall Street had expected the company to report a loss of 15 cents per share.
Time Warner Telecom (NasdaqNM:TWTC - news), said it plans to fund the first wave of its expansion, which includes development in cities such as Atlanta, Chicago and Minneapolis, with a $400 million senior credit facility that Chase Securities Inc. has agreed to secure.
''The expansion of our network is the result of incredible customer demand for local bandwidth,'' Time Warner Telecom Chief Executive Larissa Herda said in a statement.
Currently, Time Warner Telecom offers high-speed data, Internet and voice services in 21 U.S. metropolitan areas. Services in three additional markets -- Los Angeles/Orange County, Calif., Fayetteville, N.C., and Dayton, Ohio -- will be operational by mid-year, the company said.
Time Warner Telecom's revenues grew to $91.5 million in the fourth quarter from $40.1 million a year earlier.
For the full year 1999, Time Warner Telecom reported a loss of $89.3 million, or 93 cents a share, on revenues of $268.8 million, compared with a 1998 loss of $92.7 million, or $1.14 a share, on revenues of $121.8 million.
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