Covad has Wider Loss

Rich Tehrani : Communications and Technology Blog - Tehrani.com
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Covad has Wider Loss

Covad reported a fourth quarter net loss of $11.9 million or $0.04 per share, compared to a net loss of $8.4 million or $0.03 per share in the previous year quarter.

Net revenues for the quarter increased to $121.6 million from $119.4 million in the last year quarter.

On average, five analysts polled by First Call/Thomson Financial expected loss of $0.01 per share, while analysts estimated revenues of $125.03 million for the fourth quarter.

For fiscal 2007, net loss was $43.0 million or $0.14 per share, compared to a net loss of $13.9 million or $0.05 per share in the last year.

Net revenues for the year were $484.2 million, up from $474.3 million in the prior year.

It seems the company's fortunes turned for the worse a few years back around the time the company stopped advertising and changed its focus from being an IP communications company to a broadband company. This move was accompanied by a management change as well.

I am not sure what the company's future holds but I keep hearing the question "Is Covad still around" from readers and attendees at shows. This is usually not a good sign.

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