CARROLLTON, Texas-Broadband wireless services provider Nucentrix Broadband Networks Inc. reported first-quarter revenues of $4 million, down from $10.6 million during the first quarter of 2002. Net loss was $4.3 million, or 41 cents per share, compared with a net loss of $7.7 million, or 74 cents per share, for the same time last year.
Earnings before interest, taxes, depreciation and amortization for the quarter were negative $2.9 million, compared with negative $857,000 during last year’s first quarter.
The company attributed the revenue decline to fewer wireless cable subscribers this year. Nucentrix said it closed 14 wireless cable systems and reduced sales and marketing for its wireless cable business last year. The company has announced plans to switch its wireless cable subscribers to satellite and cable providers, thus clearing its spectrum for broadband wireless Internet and other wireless services.
