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Technology Stocks : METROMEDIA FIBER NETWORK (MFNX) -- Ignore unavailable to you. Want to Upgrade?

To: MeDroogies who wrote (1868)	1/7/2002 5:37:05 PM
From: AV8R	Respond to of 1983

Shares of Metromedia Fiber Network (MFNX: news, chart, profile) soared 24 percent Monday afternoon after the company reaffirmed its fourth-quarter revenue target, along with providing a target for 2002 revenue. The company projects revenue of about $100 million to $103 million. Analysts currently expect revenue of about $100 million. For 2002, the company anticipates revenue of between $510 million and $535 million. Analysts currently expect revenue to total about $508.7 million. The company also reiterated that its capital expenditure budget would be about $1.3 billion for 2001, while its 2002 budget would be about $60 million to $70 million, excluding customer-funded capital expenditure. The drop in projected capitalexpenditures for 2002 compared to 2001 was attributed to the company's network build-out being ahead of schedule and the completion of substantially all of the company's data center build-out. The company still expects to have about 3.6 million fiber miles by the end of 2004.