Mpower Holding Corp. on Thursday reported lower fourth-quarter revenue than in the period a year ago, but posted a smaller net loss.
Mpower Holding, the parent company of Mpower Communications Corp., reported quarterly revenue of $36.88 million, compared to $37.95 million in the quarter a year ago. Mpower, of Rochester, N.Y., reported a net loss of $51,000, compared to a loss of $382,000 in the fourth quarter of 2002.
For the 2003 fiscal year, Mpower reported $148.7 million in revenue, compared to $146.10 million in 2002. Mpower posted an annual net loss of $21.13 million, down from a $94.41 million loss in the previous year.
Earlier this month, Mpower announced filing a universal shelf registration statement with the Securities and Exchange Commission seeking to register $250 million of new securities, which could include shares of its common stock, preferred stock, warrants to purchase common stock or debt securities.
The company said it had no plans to raise capital through the issuance of capital stock or debt securities, but noted the shelf may be used to enter future strategic agreements or for general purposes, including acquisitions and other areas of growth.
