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-eine der ersten Internet Companies in USA hat im 4.Quartal 3,2 Milliarden verloren und im gesamten Jahr 5 Milliarden! PSINet Inc., one of the nation's first Internet companies, lost $3.2 billion in the fourth quarter of last year and sent the strongest signal yet that bankruptcy is imminent when it released its year-end financial results yesterday.
"We are likely to seek protection under . . . the federal bankruptcy code and are subject to the risk that creditors may seek to commence involuntary bankruptcy proceedings against us," the Ashburn-based Internet service provider reported.
PSINet, whose name adorns Baltimore's football stadium, lost $16.83 per share in the fourth quarter on revenue of $291 million. That compares with $224 million ($1.63 a share) lost in the same quarter of 1999 on revenue of $165 million.
The bulk of last year's losses -- $2 billion -- came from asset write-downs. The company also took $275 million in depreciation and amortization charges, about five times more than in the same quarter in 1999.
For the year, PSINet lost $5 billion.
"We are likely to seek protection under . . . the federal bankruptcy code and are subject to the risk that creditors may seek to commence involuntary bankruptcy proceedings against us," the Ashburn-based Internet service provider reported.
PSINet, whose name adorns Baltimore's football stadium, lost $16.83 per share in the fourth quarter on revenue of $291 million. That compares with $224 million ($1.63 a share) lost in the same quarter of 1999 on revenue of $165 million.
The bulk of last year's losses -- $2 billion -- came from asset write-downs. The company also took $275 million in depreciation and amortization charges, about five times more than in the same quarter in 1999.
For the year, PSINet lost $5 billion.
