San Jose, California-based Netcom On-Line Communication Services Inc has reported a first-quarter loss of $9.2m, including a gain of $377,000 on the sale of an investment, on revenue up 62% at $39m, compared to a loss of $6.5m for the same quarter last year. There were some positive signs in the quarter, however. The loss for the quarter is equivalent to $0.79 per share, or $0.83 excluding the gain, and analysts surveyed by First Call predicted a loss of $0.97 per share. Netcom was also encouraged by positive EBITDA (earnings before interest, taxes, depreciation and amortization) for its US operations – although it didn’t fare as well with its Canadian and British operations, which produced a $3.9m loss by comparison – and says it used far less cash this quarter, $1.9m, which represents its third consecutive decrease. The company says its cash and equivalents are currently $71.5m and working capital stands at $50.5m.
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