Next Level posts wider loss, in financing talks
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NEW YORK, April 18 (Reuters) - Communications equipment
maker Next Level Communications Inc. on Wednesday
posted a wider-than-expected first-quarter loss and said it was
in talks to secure financing from Motorola Inc.
Next Level, which makes equipment that turns traditional
telephone lines into high-speed pipes able to transmit
television, data and voice services, posted a net loss of $22.4
million, or 26 cents a share. That compared with a loss of
$18.4 million, or 23 cents a share, a year ago.
Wall Street analysts had expected the company to post a
loss in the range of 20 cents a share to 26 cents a share, with
a consensus estimate of 23 cents a share, according to research
firm Thomson Financial/First Call.
Revenues fell to $28.7 million from $30.5 million a year
ago. Its gross margin percentage grew to 21.2 percent, from
18.1 percent a year ago. Shares of Next Level, which have
fallen 95 percent over the past year, closed at $4.82 on
Wednesday.
Rohnert Park, Calif.-based Next Level said it added 10 new
accounts during the quarter. It said it continues to "work
closely" with the major domestic telecom carriers, and its
trials in Europe were "advancing as planned." It added that it
is "tightly managing expenses and improving productivity," and
is in the process of negotiating the terms of a financing from
Motorola. Additional details were not immediately available.
REUTERS
Rtr 16:43 04-18-01 |
