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ExciteAtHome sees $271.3 M net loss in Q3

Thu, 11/15/2001 - 7:00pm
Anne Kerven

ExciteAtHome showed a $271.3 million, or 66 cent-per-share net loss, on revenue of $138.4 million in the third quarter, it says. The company will release complete results by Monday, when it files its 10-Q with the U.S. Securities and Exchange Commission.

The company's residential broadband subs reached 4.2 million at the quarter's end, up by 486,000 for the quarter. Total North American residential subs reached 3.7 million, up by 417,000 in Q3.

More than 85 percent of its revenue came from consumer access and commercial services businesses, ExciteAtHome says. It also had $157 million in cash and short-term investments as of Sept. 30, $140.1 million of which was unrestricted, it says.

ExciteAtHome had announced in July it would have to raise additional funds or see a significant adverse effect. In August, it said in a filing it had a doubt about its ability to continue as a going concern.

Since then, it has cancelled and then renegotiated contracts with cable companies regarding new customers, filed for bankruptcy, announced a hotly contested asset sale to AT&T for $307 million, and started trading on the OTC BB after its delisting from NASDAQ.

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