Net operating loss for the quarter was $36.0 million, or $0.09 per share, compared to a net operating profit of $0.5 million, or zero cents per share, in the fourth quarter of 1999 and a loss of $36.7 million, or $0.09 per share, in the third quarter of 2000. For the full-year, net operating loss was $115.8 million, or $0.29 per share. Net operating profit and loss exclude non-operating costs and other items, including expenses for the amortization of goodwill and other intangible assets, cost and amortization of distribution agreements, equity share of losses of affiliated companies and write-down of goodwill and intangible and other assets.
Fourth quarter 2000 non-operating costs and other items totaled a net, non-cash expense of $5.4 billion. Of this amount, approximately $0.6 billion represents Excite@Home’s regular, quarterly, non-cash expenses for the amortization of goodwill and other intangibles. Approximately $4.6 billion represents the write-down of goodwill and other acquisition-related, intangible assets. The write-down was triggered by a general review for the impairment of Excite@Home’s intangible assets in light of the dynamics of the online media market, and by the company’s decision to exit certain non-core businesses for which it carried acquisition-related intangible assets on its balance sheet. The remaining amount relates primarily to write-downs on the Company’s portfolio of public and private equity securities.
In the fourth quarter Excite@Home’s worldwide residential broadband subscriber base grew to 2,956,000, up 157% from 1,148,000 at December 31, 1999. Total subscribers increased 28% from 2,313,000 at September 30, 2000. Net subscriber additions in the quarter totaled a record 643,000, an increase of 111% from the 305,000 added in the fourth quarter of 1999 and 26% from the 510,000 net subscribers added in the third quarter of 2000.
Commenting on the quarter, Excite@Home chairman and CEO George Bell said, We continue to set the pace for the growth of broadband services around the world. Leveraging our high-speed broadband network, we and our cable partners distanced ourselves from our DSL competitors in 2000, and we exited the year as the clear leader in broadband market share. Excite@Home enters 2001 as not only the largest broadband ISP in the world, but also as the fifth-largest paid ISP overall in North America.
We expect continued rapid growth in 2001, and accommodating that growth with a high level of quality and reliability in the performance of our network, a network with no peer in the marketplace, is our primary focus. We are making the necessary investments to address this priority, and the necessary improvements in our cost structure to ensure that we can grow with a trend toward profitability. The one-time, non-cash charge we took in the fourth quarter reflects our decision to exit non-core businesses and take a prudent approach to our balance sheet. We remain very enthusiastic about the growth opportunities in all of our business segments, and are committed to a diversified revenue model.
