Covad showed a $198.5 million, or $1.15 per share, net loss in its first-quarter results, ended March 31, it reports today. Losses for the same quarter last year reached $136.3 million, or 93 cents a share. The company has been running late with its filings, due to internal changes and what the company last month called weaknesses in its internal controls last year.
Less than a month after it placed No. 1 on a list of Massachusetts' best-performing public companies, Teradyne lowered its second-quarter guidance and laid off 180 people, for a total 12 percent cut in its workforce. The test-equipment maker's $3 billion in revenues last year earned it first place on The Boston Globe's list of the state's top public companies, which was based on 2000 revenues.
Level 3 Communications lowered its projected revenue from communications and announced it will lay off 1,400 workers. The company also switched its market focus from small to large, established companies. The company estimates about 20 percent of its recurring revenue base is at risk and will be through the rest of the year.
The Progress and Freedom Foundation has a message for broadband policy makers: Get the lead out. "Misguided" policies are holding up deployment, and in turn, inhibiting IT industry developments, the Foundation says. Its Project Broadband will cover the issue by bringing together "leaders from the IT sector, including top telecommunications and computer industry executives and policy leaders," w...
360networks won't make that $10.9 million interest payment due today and could be in default if it doesn't come up with the funds in 30 days. The company also won't acquire NetRail as planned. Also, Impsat Fiber Networks Inc. in Buenos Aires announced today it terminated certain contracts with some of 360networks' subsidiaries.
Spending on all streaming-media-enabled advertising will grow to $3.1 billion by 2005, up from $44 million in 2000, according to the Yankee Group. The growth will be fueled by higher fees from on-demand marketing and increased residential use. BtoBtoC Streaming Media: Helping Companies Streamline Consumer Communications says streaming advertising includes online product information and infomerc...
Now it's official. Gartner Dataquest says the bills in front of Congress this month could restructure the telecom industry, will generate intense debate and said in a statement that "additional regulation is not the answer." Both the Internet Freedom and Broadband Deployment Act of 2001, now with the Rules Committee after last week's trouncing from the Judiciary, and new legislation in the Sena...
Motorola Inc. launched its high-output power doubler, a gallium arsenide-based cable TV amplifier for 870 MHz applications. The MHW9187 was designed with the company's high voltage pseudomorphic high electron mobility transistor (HVPHEMT2) process, it says. The MHW9187 delivers an operating bandwidth from 40 MHz to 870 MHz, and is specified for 79-, 112- and 132-channel performance, Motorola sa...
Liberty Media is dipping into the cable telephony market with two related deals. It will form a joint venture with IDT Corp. to provide telephony services to its international cable affiliates, it reports. Under the agreement, both will have equal equity stakes in the venture, and IDT will control day-to-day operations and appoint most of the directors.
Nortel Networks' dismal second-quarter update says it will lay off another 10,000 workers by the end of September, suspend dividend distribution after June 29 payments and show a high-than-expected loss. The company says it also will discontinue certain access operations, including its narrowband and broadband access solutions, over the next year.
WideOpenWest says today that it completed the transfer application forms for 115 Ameritech New Media franchises. All forms were filed by hand delivery to each local franchise authority earlier this week, WOW says. The filings come as part of WOW's May 23 agreement to purchase Ameritech's cable systems in the Cleveland, Columbus, Detroit and Chicago metro areas.
CityNet Telecommunications Inc. launched a last-mile fiber optic network through Indianapolis' existing sewers. The company is using its Sewer Access Module robot to hook the system up. Under the agreement, CityNet will install the in-sewer system, monitor the sewers' condition after installation and pay the city 2.
OpenTV agreed to acquire Static, a privately held ITV media and entertainment company in London, for about $59 million. Under the stock-and-cash agreement, OpenTV will get all of Static's stock, although about 14 percent of the gross deal value, in ordinary shares, will be held back for certain earn-out provisions, OpenTV reports.
The House Judiciary Committee yesterday defeated 19 to 15 the Cannon-Conyers bill. HR2120 was sponsored by representatives Chris Cannon (R-Utah) and John Conyers (D-Mich.) in response to provisions of the Tauzin-Dingell bill. Observers say the outcome of the two bills will determine the industries' antitrust issues and how those will be handled in the future.
Teligent received approval from a bankruptcy court for a two-week extension of its credit, which allows the company to continue operating, according to court documents. Teligent filed for Chapter 11 bankruptcy May 21 and was delisted from NASDAQ June 7. Its chair resigned in late May, after less than a month on the job.