Aether Systems Easily Beats Estimates
Aether Systems
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beat analysts' estimates by 10 cents for the fourth quarter, and the news drove up the company's stock in after-hours trading.
The company reported a fourth-quarter loss of $35.2 million, or 90 cents a share, compared with a loss of $4.5 million, or 18 cents a share, in the year-ago period. The consensus estimate from 19 analysts queried by
First Call/Thomson Financial
called for a loss of $1 a share for the latest fourth quarter.
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The provider of wireless data products and services reported quarterly revenue of $25.8 million, up sharply from $4 million in the year-ago period.
Aether, which is based in Owings Mills, Md., said in a press release that it plans to increase its revenue targets and report positive earnings before interest, taxes, depreciation and amortization sooner than expected. Analysts expect Aether to lose $2.25 a share in 2001.
Aether closed at $43.63 on the
Nasdaq
. In after-hours trading on
Island
, the stock gained $2.75 to $46.38.
