DJ XO Down -3: Analyst Sees Cutbacks To Conserve Capital
17 Apr 16:10
Banc of America Securities LLC analyst Trent Spiridellis believes the company
will revise its business plan in the near future, cutting spending to extend
its available funding into 2003.
Spiridellis said the scale-back could be accompanied by downward revisions to
XO's financial guidance, as the company walks a fine line between hurting
performance and conserving capital.
XO spokesman Wolfenbarger merely noted that the company continues to look at
alternatives, and that it expects to post quarterly results April 26.
Following several successful quarters using a new business plan, Spiridellis
believes sources of capital would indeed materialize for XO.
The company is a "solid long-term performer," and likely to prove a survivor
in the troubled sector, Spiridellis said.
XO, of Reston, Va., offers fiber optic and broadband wireless communications
services.
-By John Seward, Dow Jones Newswires; 201-938-5400
(END) DOW JONES NEWS 04-17-01
04:10 PM |
