Sign up for our newsletter
Technology / AI and automation

EARTHLINK RETRACTS CASH PROBLEM STATEMENT

Internet Service Provider Earthlink Network Inc was forced to retract a statement that it will run out of cash by the end of the year (CI No 3,225). Trading in the Pasadena, California company’s shares was halted on Nasdaq at $11.625 after it revealed its cash problems in an official filing to the Securities and Exchange Commission. But this was quickly retracted and it said it is optimistic that financing will be available to address its current liquidity requirements. The company, which raised $26m in its January initial public offering, turned in net losses at the six month stage of $16.1m on revenue of $34.6m, up from a loss of $11.7m on revenue of $10.1m in 1996.

White papers from our partners


This article is from the CBROnline archive: some formatting and images may not be present.

CBR Staff Writer

CBR Online legacy content.