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October 28, 1999

Earnings Report: NorthPoint Communications Group Inc

By CBR Staff Writer

NorthPoint Communications Group Inc, one of a band of competitive local exchange carriers specializing in DSL last-mile connections, saw third-quarter net losses up to $46.5m from $7.8m last time on revenues up to $5.7m from $237,000 last time. Losses per share stood at $0.37 from $0.32 last time.

During the second quarter the company boosted its presents in central offices by 56% to 683 sites. This, according to NorthPoint, gives the company the reach to offer service to 25% of all US businesses and 20% of all households. The company has also agreed co-location space in more than 1,200 central offices. During the third quarter, the company grew its subscriber base by 107% to 11,800 lines from around 5,700 line at the end of the second quarter. NorthPoint closed yesterday up 14.80% at $25.6875.

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