PHCM is now trading @ 92 1/4 after hours...
Thursday July 20, 6:48 pm Eastern Time
Phone.com posts smaller-than-expected loss
REDWOOD CITY, Calif., July 20 (Reuters) - Mobile Internet software company Phone.com Inc.(NasdaqNM:PHCM - news) posted a smaller-than-expected fourth-quarter loss on Thursday, beating Wall Street expectations.
The Redwood City, Calif.-based company reported a pro forma loss of 10 cents a share on a diluted basis, or $8 million, compared to 30 cents, or $6.6 million, in the prior year.
Wall Street analysts had on average expected the company to post a loss of 19 cents a share, according to First Call/Thomson Financial.
Phone.com, whose software helps deliver Internet-based information services to wireless phones, said its revenue more than quadrupled to $28.7 million from $6.7 million a year ago.
Including one-time items, Phone.com posted a net loss of $165.6 million, or $2.06 a share, vs. a year-ago loss of $6.8 million, or 31 cents a share. The company said as of June 30 of this year it had cash, cash equivalents and short-term investments of $435.6 million.
The company's software allows users to access the Internet and corporate intranet-based services, including e-mail, news, stocks, weather, travel and sports on mobile phones.
``The fourth quarter was a very strong quarter for Phone.com,'' said Alan Black, chief financial officer.
``The increase in the number of active users of our products worldwide to over 4.1 million from 2.0 million at the end of the March 31, 2000 indicates the rapid acceleration of consumer adoption of mobile Internet services,'' he said.
The pro forma loss excluded non-cash charges for acquisition activity, amortization, a charge for in-process research and development expense, and deferred stock-based compensation expense.
The company said it had tripled its customer base to 77 operators worldwide and expanded its scope by acquiring seven companies in the United States and Europe.
The company announced its earnings after market close. Its shares closed at 88-3/8 on the Nasdaq, up 3-11/16. |
