Corvis reports wider loss in its fourth quarter
COLUMBIA, Md., Feb 7 (Reuters) - Corvis Corp. (NasdaqNM:CORV - news), a manufacturer of optical communications systems, on Thursday posted a widening loss, excluding charges, in its fiscal fourth quarter amid last year's harsh downturn in demand for network gear.
Excluding charges, Corvis in its fourth quarter reported a loss of $39.9 million, or a loss of 11 cents a share, compared with a loss, excluding charges, of $23.9 million, or a loss of 7 cents a share, a year ago.
Analysts on average expected Corvis to post a loss excluding charges of 11 cents a share, with individual estimates ranging from 10 cents a share to 13 cents a share, according to research firm Thomson Financial/First Call.
Corvis' fourth-quarter net loss was $374.8 million, or a net loss of $1.05 a share, compared with a net loss of $89.7 million, or a loss of 27 cents a share, a year ago.
The company's fourth-quarter revenues totaled $15.2 million, compared with $46 million a year earlier. |
