REDWOOD CITY, Calif.-Phone.com Inc. released its first-ever quarterly earnings report since going public in June, posting a net loss for the fiscal fourth quarter of $6.8 million, or 62 cents per share.
Net loss for the same period last year was $2.9 million, or 53 cents per share, and its net loss for the 1999 fiscal third quarter was $5.7 million, or 99 cents per share.
The company said fourth-quarter revenues increased 425 percent to $6.7 million, from $1.3 million the year before. Phone.com attributed the net loss figure to large investments in research and development activities, for which it sought public funding through its initial public offering.
Phone.com’s IPO was completed earlier in June, with 4.6 million shares bringing in proceeds of about $67 million. As of June 30, the company said it had cash and short-term investments of $113.1 million, total assets of $138.9 million and stockholders’ equity of $92.3 million.
