MFNX - I know you aren't into SEC filings, but this is another great one: sec.yahoo.com. I especially like this part.
"INTEREST EXPENSE
Interest expense decreased in the three months ended September 30, 1998 to $4,000 versus $53,000 for the three months ended September 30, 1997. Interest expense decreased in the nine months ended September 30, 1998 to $16,000 versus $732,000 for the nine months ended September 30, 1997. The decrease in interest expense reflects the repayment of all of the Company's debt in 1997 with the proceeds from the Metromedia Investment in the second quarter. "
That means MFNX has done the hard part in infrastructure building - getting the damn thing up and running - but they won't be wiped out by amortization and interest costs. None of the other infrastructure companies is close to profitability (QWST, etc.).
The fiber optic network companies differ from other equipment and infrastructure companies like ANDW. If you want a satellite dish, call ANDW. If you need a network to plug into, call MFNX. WMB is building the same thing, which they will spin off separately sometime in 1998. WCOM also has a lot of its own fiber.
I remain very bullish on MFNX for next year. I will get some myself once I finish with some microcap plays now underway. |
