Dow Jones Business News
Corvis 3Q Losses 26c/Shr Vs 31c
Wednesday November 5, 4:37 pm ET
During the third quarter, Corvis recorded restructuring charges of $52.9 million. Corvis said in September it would cut 14% of its work force, or 200 jobs, in a restructuring effort designed to save $30 million to $40 million annually.
Cash, cash equivalents and investments were $337.4 million at Sept. 30. Corvis reiterated that it expects to end 2003 with about $275 million to $300 million in cash, cash equivalents and short-term investments.
Corvis Corp. (NasdaqNM:CORV - News) - Columbia, Md.
3rd Quar Sept. 30:
2003 2002
Revenue $143,238,000 $1,352,000
Net income (112,263,000) (127,398,000)
Avg shrs (diluted) 439,849,000 410,323,000
Shr earns
Net income (.26) (.31)
Figures in parentheses are losses.
-Stephen Lee; Dow Jones Newswires; 201-938-5400
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