Fiber-optic networks operator Neon Communications (NOPT) was down 10.8% in late morning after the company posted a first-quarter loss of 77 cents a share, beating analysts' estimates of 79 cents but wider than the year-ago loss of 53 cents.

Revenue rose to $5.4 million from $2.1 million the year earlier, but sales costs rose to $4.1 million from $2.1 million. The company also lowered its revenue outlook for 2001 to $29 million to $31 million, from $35 million to $37 million, and said it sees positive EBITDA by mid-2002.