STOR reported today...EMLX, MCDT tonight...heres the numbers
Thursday April 18, 11:12 am Eastern Time
StorageNetworks 1st Quarter Loss 5 Cents/Share
(NasdaqNM: STOR - news) - Waltham,
1st Quar :
2002 2001
Revenue $31,626,000 $27,105,000
Net income (5,394,000) (32,863,000)
Avg shrs 98,099,000 95,842,000
Shr earns
Net income (.05) (.34)
Figures in parentheses are losses.
The company beat a Thomson Financial/First Call mean loss estimate of 14 cents a share.
StorageNetworks Inc. (STOR) reported earnings before interest, taxes, depreciation, amortization and noncash stock compensation of $3.8 million, improved from negative EBITDA of $22.1 million a year earlier.
The company, a provider of data storage management software and services, is streamlining its functional organizations, reducing headcount by about 90 employees and bringing total headcount to about 300. These reductions will result in a charge for severance and other related costs of $400,000, which will be taken in the second quarter.
The company also expects these reductions to reduce cash burn and operating expenses by $600,000 on a monthly basis when completed.
A First Call survey of 10 analysts yielded a mean loss estimate of 13 cents a share for the second quarter.
StorageNetworks ended the quarter with $273.5 million in cash and marketable investments.
Company Web site: storagenetworks.com |
