posted a fourth-quarter loss that widened from a year ago, as total costs more than doubled, but the company said it was "taking steps" toward securing a new funding package.
Investors pushed the company's already beaten-down shares lower by 6 cents, or 4.1%, to $1.47 on the
this morning. The 52-week high is $100.
The broadband communications company, which is based in Vienna, Va., reported a fourth-quarter loss of $260 million, or $4.25 a share, up from $153.7 million, or $2.89 a share, a year ago. The loss in the latest quarter includes a one-time restructuring charge of $14.5 million and a noncash asset charge of $20.1 million.
Sales for the quarter rose to $54.1 million from $15.5 million last year.
Teligent is "making significant progress" toward completing a new round of financing, which the company expects to involve a mix of equity, debt and vendor funding.