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VENTURA COUNTY BUSINESS | VENTURA COUNTY EARNINGS

Accelerated Networks Sees Loss Despite Rise in Sales

November 07, 2000

Accelerated Networks Inc. in Moorpark said revenue for the third quarter that ended Sept. 30 was up $11.6 million, a 300% increase over the $2.9 million reported in the third quarter of 1999 and a 32% jump over the second quarter of this year.

Despite the increase in sales, the company reported a net loss of $9 million, or 19 cents per share, which includes noncash charges related to deferred stock compensation.

A year ago, the company reported a third-quarter loss of $5 million, or 13 cents per share. The loss for the second quarter of this year, which excluded the noncash charges, was $8.3 million, or 19 cents per share.

Accelerated Networks sells equipment to telecommunications service providers.

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