Covad Communications Group Inc. reported a $1.4 billion net loss, or $9.47 a share, for 2000 and a $907.5 mission net loss for its fourth quarter. The results generated a "going concern" from its auditors. "The focus in 2000 was on fast growth and maintaining a leadership position," Chair Chuck McMinn said in a statement.
TiVo Inc. landed several patents this week, including one for its personal video recording software and hardware, it says. The announcement yesterday sent its stock from $4.94 to $8.50 a share. But TiVo also announced net losses of $50.2 million or $1.20 per share for the quarter ending April 30. In January, it had reported a net loss of $81.
ADC reported a net loss of $1.05 billion or $1.33 a share during its second quarter of 2001. The company also saw sales decrease to $652 million from $771 million a year ago. Chair and CEO Richard R. Roscitt cited capital spending markets, and said the company is being restructured and streamlined. It also is refocusing on such growth areas as optics, DSL, IP cable and software.
WideOpenWest LLC has confirmed talk it will acquire the assets of Ameritech New Media. The acquired systems serve about 310,000 households in Chicago; Detroit; and Columbus and Cleveland, Ohio. The systems will become a platform for introducing digital video and broadband high-speed Internet service to 2 million Midwest households, WOW says.
Charter Communications Inc. has priced its offerings and will issue about 52.4 million shares of Class A common stock at $21 a share and $550 million of convertible senior notes at 4.75 percent annually, it reports. The notes, due 2006, are payable semiannually and will be convertible into Class A common stock at a conversion price of $26.
CableLabs and two standards groups have developed a set of specifications that define an advanced IP architecture. The specifications, called IPCablecom, define a complete system for delivering communications services, including telephony, to residential cable customers, CableLabs reports. The system is based on IP and advanced packet transmission.
Adaptive Broadband was delisted from NASDAQ yesterday, following two weeks of suspended trading. The company says it will seek a review. On May 15, the company announced it would delay filing of its 10-Q for the quarter ended March 31 pending a review of its 2000 results. And not only did it announce revenues of $1 million — lower than the low end of its guidance of $2 million — but...
Deutsche Telekom and Lucent report successful testing of Lucent Technologies' 40 Gbps optical networking technology. DT used it over a 72-mile distance. The system is based on time-division multiplexing technology (OC-768/STM-256), transmitting voice, video and data with a single laser over a single wavelength of light, Lucent reports.
U.S. cable operator gross revenue will rise from $35 billion last year to more than $60 billion in 2006, and most will come from new services, a study says. But basic and enhanced basic revenue is growing only at a 4 percent rate, even with price increases, and a lot of that revenue goes to networks, not cable operators.
OpenTV's middleware has now been installed in 16 million set-top boxes worldwide, with 2.1 million new OpenTV-enabled STBs deployed in the first quarter 2001, the company reports. The company shipped 1.6 million STBs in first quarter 2000. In totting up its first-quarter results, OpenTV also found that it had its second consecutive quarter of at least 2 million deployments — coming primar...
The House Judiciary Committee begins hearings today on the Cannon-Conyers Package, a set of bills intended to strengthen requirements of the 1996 Telecom Act that require RBOCs to open the local markets to competitors. The package, introduced earlier this month, opposes the Tauzin-Dingell bill (HR 1542), which seeks to open the long-distance market to the RBOCs and better allow them meet the gr...
Lucent Technologies will supply Qwest Communications International with technology for its remote terminals, which expand the distance DSL can be taken from a central office. Qwest announced it will expand its DSL coverage area in 11 of 14 Western states where it provides local phone service. The expansion comes as it prepares to re-enter the long-distance market in about a year, it says.
BroadJump Inc. and McAfee.com partnered on a deal that integrates BroadJump's Virtual Truck Installer with McAfee.com's Personal Desktop Firewall and Clinic services. The combination will allow subscribers to select a service, and the Virtual Truck will do the registration and billing, as well as the download and installation of McAfee.
Teligent has thrown in the towel and will file Chapter 11 bankruptcy, it says in a statement issued today. The company says it expects to continue its day-to-day operations while reorganizing, and adds it has "entered into an interim arrangement with its lenders to provide funds, subject to certain conditions, for near-term operations.
Emperative says it's completed interoperability tests between ProvEn Optical and equipment from Cisco Systems, Nortel Networks and Ciena. The testing is part of its program to automate service activation and management across access, metro and core networks, including Sonet, DWDM, GigE, HFC and IP networks.