Avici first-quarter loss narrows
NORTH BILLERICA, Mass., April 19 (Reuters) - Avici Systems Inc. <AVCI.O>, a maker of routers that move data across fiber-optic networks, on Thursday said its first-quarter loss narrowed and it set a record for revenues despite the economic slowdown.
The Boston-area company reported a first-quarter pro forma net loss, excluding noncash equity-related charges, of $11.8 million, or a net loss of 24 cents a share, compared to a loss of $13.8 million, or 38 cents, in the same period last year.
Analysts had expected the company to report a loss in the range of 23 to 27 cents, with a consensus for a 25-cent loss.
10:48 04-19-01 |
