reported a fourth-quarter loss today that more than doubled over the year-ago figure but nevertheless came in better than two analysts had projected.
The White Plains, N.Y.-based Internet service provider lost $72.9 million, or $1.04 a share, up from its year-ago loss of $29.8 million, or 46 cents a basic share. Two analysts surveyed by
First Call/Thomson Financial
estimated the company would lose $1.48 a share, excluding unusual items.
Prodigy posted fourth-quarter revenue, before amortization of subscriber rebates, of $130 million, up 141% from $54 million posted in the same quarter one-year ago.
At the end of 2001, Prodigy expects service to be delivered to between 3.1 million and 3.7 million subscribers, up from 2.8 million subscribers in the fourth quarter of 2000.
The company anticipates total revenue in 2001, before subscriber amortization costs, to range from $350 million to $365 million, with gross margins of at least 49%, down from full-year 2000 revenue of $376. 4 million.
Prodigy expects a net loss, before adjusting for minority interest, of $317 million to $325 million, up from $209.6 in the year-ago period. The company said the widening loss is largely due to amortization expenses associated with the intangible assets contributed by
, when it invested in the company.
Prodigy said it is confident it will meet its first-quarter guidance. For the first quarter 2001, Prodigy believes revenue, before amortization of subscriber rebates, will range from $80 million to $85 million, and gross margin will be at least 48%. Depreciation and amortization costs are expected to be approximately $87 million, including $14 million of rebate amortization.
trading, shares of Prodigy fell six cents, or 2.1%, to $2.88 on the