reported a fourth-quarter loss today that beat Wall Street's lowered estimates by 2 cents, but the company's loss widened from the year-ago period.
Shares of Winstar gained $1.50, or 12.7%, to $13.38 in recent
For the fourth quarter ended Dec. 31, Winstar lost $255.1 million, or $2.76 a share. Seventeen analysts polled by
First Call/Thomson Financial
expected the company, which is based in New York, to lose $2.78 a share. The company lost $180.4 million, or $2.18 a share, in the year-ago period.
The company's fourth-quarter loss before interest, taxes, depreciation and amortization narrowed to $19.9 million from $61.8 million last year. Winstar expects its EBITDA losses to continue declining until the figure breaks even, which is expected in the second quarter of 2001.
Winstar, a broadband services provider, posted fourth-quarter revenue of $225.1 million, up 59.1% from $141.5 million in the same period one year ago.