A 37 percent dip in sales, a lagging economy and Adelphia Communications Corp.'s bankruptcy filing led to much suffering for Scientific-Atlanta Inc. in the fourth quarter. The company posted sales of $390.1 million, down $229.5 million from the same period a year ago. A Q4 net loss of $15.7 million, or 10 cents a share, was reported.
The Time Warner of old may be flexing its muscles a bit at AOL Time Warner Inc. Chief Operating Officer Robert Pittman has decided to resign his post, which opens the door for Time Warner leaders to take hold of the merged company's future. The multimedia giant has decided to reorganize its businesses into two groups: the Media & Communications Group and the Entertainment & Networks Group.
Copyright 2002 P.G. Publishing Co. Pittsburgh Post-Gazette…07/19/2002 From LexisNexis WorldCom Inc., accused of fraud for its accounting practices, may file the biggest bankruptcy in U.S. history as early as Sunday to cope with creditors owed more than $35 billion, people close to the situation said.
Copyright 2002 Sun Media Corporation The Ottawa Sun…07/19/2002 From LexisNexis Despite predicting a shrinking market for telecom equipment in 2003, Nortel Networks CEO Frank Dunn expects his firm will be in the black next year. "By June of next year I expect to be profitable," Dunn said during Nortel's quarterly earnings conference call yesterday.
The future is in the hands of the children. A motto BellSouth Corp. is supporting by dolling out educational grants to teachers in the Southeast. The grants are designed to equip students with the 21st century skills required to thrive in today's digital workplace, BellSouth said. Sixteen regional teachers shared in the $18,000 purse.
Roughly one year after seeking protection from creditors under the protective blanket of Chapter 11 bankruptcy, 360networks Inc. has submitted a reorganization plan that will enable the company to start over with less debt and a smaller operation. The builder of fiber optic networks has proposed a plan that would give its senior secured creditors, led by JP Morgan Chase Bank, control of the new...
The Street was smiling on RCN Corp.'s stock today, following news that the company has inked a multi-million dollar dark fiber deal with Cogent Communications. RCN shares were up 5 percent in mid-day action. Under the terms, RCN and Starpower - its joint venture with Pepco Communications - will provide dark fiber rings and building lateral connections in New York City and Washington, D.
Rolling, rolling, rolling, SeaChange International Inc.'s mobile video-on-demand demonstration truck kicked off its coast-to-coast tour in Boston this week. The 41-foot All-Television-Vehicle (ATV) will putt around the country in an attempt to get the word out about VOD. The truck is equipped with VOD equipment, digital set-top boxes and wide-screen television, and is designed to introduce cabl...
Despite its price tag, speed has always been the argument for broadband, but one company says it has found a way to narrow the speed gap to give dial-up customers broadband-like performance. XcelaWeb is a 450 kbps software client that works with a subscriber's current phone link to provide "an efficient alternative route to the already overloaded and congested Internet," according to the softwa...
The ongoing economic downturn produced a mixed financial bag for several players in the broadband and communications arena. The latest reports: Sprint, Level 3 Communications, Rogers Communications and Nokia. Sprint Corp. An investment write down and a lagging wireless division propelled Sprint Corp.
Alopa Networks has closed $8.5 million in Series C financing. The company plans to use the funds to expand the deployment of its MetaServ provisioning platform in the cable industry. The $8.5 million is part of a $12.5 million funding package, led by VantagePoint Venture Partners. Other investors include Summit Accelerator Fund, Lucent Venture Partners and Rainbow Fund.
As cable operators flirt with circuit-switched and IP telephony in select sectors of their subscriber markets, technology on the user end of advanced telephony systems continue trending in the form of new feature-rich, graphical IP telephones. Avaya has debuted a series of new IP phones, mostly for application in enterprises with established IP telephony infrastructure.
Hughes Network Systems is trying to wipe out consumers' "Oh my god," reaction to the upfront cost of hardware and installation for its Direcway broadband-by-satellite service with a new program that enables customers to pay over time. Under the terms of the new Direcway 99/99 Program, consumers who purchase Direcway from DirecTV Inc.
With several other telecom companies reporting financials this week, Tellabs is not the only one under The Street's watchful eye. The latest to report: Motorola Inc. and RealNetworks Inc. Motorola Inc. In the second quarter, Motorola Inc. suffered its biggest net loss to date: $2.3 billion. The loss was primarily fueled by the $1.
MPEG LA has put the finishing touches on the licensing terms for the media delivery standard MPEG-4. Official licenses will be issued in September. The organization, which is made up of a group of patent holders governing MPEG-4, had been under fire for proposing unmanageable royalty rates. But at a recent meeting in San Francisco, the group hammered out licensing terms that it deems reasonable.