High Speed Access Corp. - Denver
1st Quar March 31:
2000 1999
Revenue $1,994,000 $299,000
Net income a (27,727,000) b (8,037,000)
Avg shrs 54,329,031 6,200,000
Shr earns
Net income a (.51) b c (18.35)
Figures in parentheses are losses.
a. Reflects $24,000 noncash compensation expense from stock options;
$225,000 amortization of distribution agreement costs; and $276,000
amortization of intangible assets. Excluding noncash compensation
expense and amortization, the company lost $27.2 million, or 50 cents a
share.
b. Includes $1.52 million noncash compensation expense from stock
options, and $239,000 amortization of intangible assets. Excluding
noncash compensation expense and amortization, the company lost $6.28
million. Assuming the conversion of mandatorily redeemable convertible
preferred shares into common shares at the beginning of the period, and
excluding noncash compensation expense and amortization, the company
lost 21 cents a share. Assuming the share conversion, the company
calculated its loss per share on 29.5 million shares.
c. After $105.2 million accretion to redemption value of mandatorily
redeemable convertible preferred stock; and after $518,000 mandatorily
redeemable convertible preferred stock dividends.
Data Speed Access Corp. (HSAC) provides broadband services to
residential and commercial subscribers.
-Ralph Tasgal; Dow Jones Newswires; 201-938-5400
(This story was originally published by Dow Jones Newswires)
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