Aether Systems Easily Beats Estimates

Author:: Aileen Gallagher
Publish date:: Feb 6, 2001 5:33 PM EST

Aether Systems

(AETH)

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.

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.