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Technology Stocks : LAST MILE TECHNOLOGIES - Let's Discuss Them Here

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To: Hiram Walker who wrote (939)	5/28/1997 9:40:00 AM
From: Q.	of 12823

Does anybody have an opinion about ARTT, Advanced Radio Telecom? They are building a microwave network for last-mile communication. Their target customers are CAPs and ISPs, etc. I'm looking at it as a possible short, because the financial statements are horrible. Here's a writeup I did for the Motley Fool's shorting stocks folder: ========================= I found this co. by doing a screen for stocks with PSR > 20. ARTT is an early stage company that hopes to set up an extensive wireless communication network to sell 'last-mile' communication services to local exchange phone companies. They will compete with various technologies including copper wire. One thing I like about this is as a short is that like all wireless stocks, they have incredible capital needs, which will cause them to lose tons of money Q after Q. At the end of the 12/31 FY, they had about $2 per share of book value, and Zacks figures they will lose well over $1 per year, so they should be down to negative shareholders equity sometime in 1998. IPO'd at 15 in early November, and stock is below that level now. Anybody heard of the company? ========================== Here's the link to the 10k: sec.gov ========================== Here's a market guide report: QKFACT ARTT 00754U101 Advanced Radio Telecom UPDATED Market Guide Quick Facts Report Advanced Radio Telecom SYMBOL: ARTT EXCHANGE: NASD PRICING DATA (AS OF) 05/02/97 RATIOS & STATISTICS Price 9.50 Price/Revenue (TTM) 32.66 52 Week High 16.50 P/E (TTM) NM 52 Week Low 8.38 Price/Book (MRQ) 6.46 Beta NA Price/Cash Flow (TTM) -3.36 Avg Daily Vol (10 Day) 0.01 Mil ROA (TTM) -120.66% Avg Daily Vol (3 Month) 0.03 Mil ROE (TTM) -489.71% Current Ratio (MRQ) 0.29 DIVIDEND INFORMATION Total Debt/Equity (MRQ) 0.25 Indicated Annual ($) 0.00 Yield 0.00% NOTE: TTM = trailing twelve months MRQ = most recent quarter SHARE RELATED INFORMATION SHORT INTEREST INFORMATION Market Cap. ($) 185.811 Mil Current Month 0.036 Mil Shares Out. 19.559 Mil Previous Month 0.047 Mil Float 7.000 Mil Short Interest Ratio 6.0 Day INSTITUTIONAL & INSIDER OWNERSHIP PURCHASES SALES NET PURCH %OWNED Institutions (3 Months) 2.384 Mil 0.000 Mil 2.384 Mil 12.2% Insiders (6 Months) 0.172 Mil 0.036 Mil 0.136 Mil 64.2% BUSINESS SUMMARY Advanced Radio Telecom Corp. provides wireless broadband telecommunications services using microwave transmissions in the 38GHz band of the radio spectrum. For the FY ended 12/96, revenues totalled $2.9M vs. $6K. Net loss before extraordinary item totalled $29.3M, up from $3.2M. Results reflect $2.7M of revenues earned from non-recurring sales and construction, offset by a $7.6M compensation expense and losses on early debt retirement. REVENUES (Thousands of U.S. Dollars) QUARTERS 1995 1996 MAR 0 JUN 0 62 SEP 0 63 DEC 6 2,783 TOTAL 6 2,908 EARNINGS PER SHARE MAR 0.000 JUN -0.030 -1.430 SEP -0.060 -0.430 DEC -0.200 -1.110 TOTAL -0.290 -2.970

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