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Non-Tech : EARNINGS REPORTING - surprises, misses & more -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (154)	7/23/2000 4:32:20 AM
From: 2MAR$	Read Replies (1) \| Respond to of 762

7/18..EFNT reports wider loss, booming sales By Bloomberg News July 18, 2000, 10:15 a.m. PT DALLAS--Efficient Networks, which makes modems used for fast • Get the "Big Picture" • Related News • Message Boards Quote Snapshot EFNT 81.94 -8.92 COVD 19.44 -0.94 SBC 43.00 -0.12 Enter symbol: · Symbol Lookup Quotes delayed 20+ minutes Internet connections on telephone lines, said today its fiscal fourth-quarter loss widened on higher acquisition costs, though sales surged 13-fold. The loss came in at $49.6 million, or 91 cents a share, in the quarter ended June 30, vs. $12.3 million, or $3.01, in the year-earlier period, when there were fewer shares outstanding. Sales increased to $101.9 million from $7.69 million a year ago. Efficient Networks is selling more modems to SBC Communications, Covad Communications and to international customers that are rushing to meet demand for digital subscriber line services. DSL moves data on copper phone lines at speeds more than 100 times faster than regular modems. ''There's just the insatiable demand for broadband services, especially DSL,'' said Frost Securities analyst Syed Haider. He rates Efficient Networks a ''strong buy'' and calls it the ''preeminent supplier'' of DSL modems and routers. Dallas-based Efficient Networks expects an operating profit in its first quarter and predicts sales will increase 20 to 25 percent from the fourth quarter, chief financial officer Jill Manning said on a conference call. Do you have an opinion or comment on this story? Tell us. The company lost $1.8 million, or 3 cents a share, excluding acquisition and amortization costs. On that basis, Efficient Networks was expected to lose 15 cents a share, the average estimate of analysts polled by First Call/Thomson Financial. Copyright 2000, Bloomberg L.P. All Rights Reserved.