SAN FRANCISCO (Thomson Financial) - Shares of BigBand Networks Inc. were
down 46 cents, or about 7.4%, at $5.72 on Friday after the company posted a
fourth-quarter loss and issued a first-quarter outlook.
Late Thursday, the Redwood City, Calif.-based provider of broadband services
posted an adjusted fourth-quarter loss of $7.4 million, or 12 cents a share,
narrower than the mean estimate of analysts polled by Thomson Financial for a
loss of 13 cents.
A year earlier, adjusted earnings were $10.7 million, or 18 cents a share.
BigBand reported it swung to a net loss of $13.8 million, or 23 cents a
share, from a net profit of $8.94 million, or 15 cents a share, last year.
Revenue for the three months ended Dec. 31 fell to $30.7 million from $63
million a year earlier.
For the first quarter, BigBand said it expects a per-share net loss of 8
cents to 11 cents, or a loss of 2 cents to 5 cents on an adjusted basis, on
revenue of $35 million to $39 million.
Analysts forecast a per-share loss of 8 cents on revenue of $33 million for
the first quarter.
Katherine Hunt
kh/jw
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