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October 16, 1997updated 03 Sep 2016 6:44pm


By CBR Staff Writer

Nasdaq new boy @Home Network Inc reported publicly for the first time yesterday, and revealed the cost of establishing its cable modem network. The Redwood City company said its figures are on target and it now has 26,000 cable modem subscribers in the US and Canada from the 2.7 million hones that have the required two- way upgraded plant. That may not be seen as a particularly good penetration rate by industry watchers. It expects to have access to 50 million homes through its deal with Cablevision, which was announced earlier this month. Net losses in the quarter were of $11.9m, up from $7.5m the previous year, on revenues up to $1.9m from $141,000 previously and in the nine month period net losses were $34.7m, up from $15.5m previously, on revenues up to $3.7m from $141,000. Cash at the quarter’s end was a hefty $132.7m, of which $101m came from its highly successful initial public offering in mid-July, when 9 million of its shares were sold at $10.50. they closed yesterday down $2.0625 at $25.625.

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