posted a narrower fourth-quarter loss than Wall Street was expecting, and the company indicated that it expects to break even within the next year.
The Internet services and media company said it lost $46.9 million, or 74 cents a share, while 10 analysts polled by
First Call/Thomson Financial
were calling for the company to lose 81 cents in the quarter. The company lost $49.8 million, or $1.59 a share, in the year-ago period. The losses exclude the effects of acquisition-related amortization of goodwill and other intangible assets, plus additional items.
Revenue for the period rose to almost $31 million from $27.3 million in the same period last year.
Shares of NBC Internet lost 16 cents, or 5.7%, to $2.59 in regular session
trading, but rose to $3 in recent after-hours
NBC Internet projected a first-quarter loss of 65 cents to 75 cents a share and forecast a loss of $2.05 to $2.25 a share for the year. The company expects to break even, excluding noncash charges and promotion costs, in the fourth quarter of 2001 or the first quarter of 2002. For the first quarter ending March 31, the company expects revenue of about $16 million, and NBC Internet projected revenue of $100 million for the fiscal year.
Analysts expect the company to lose 60 cents a share in the first quarter and $2.17 for the year.