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Excite@home posts huge loss, needs cash to stay afloat

Excite@home, the leading provider of cable Internet service in North America, has reported a net loss of US$346.3 million for its second quarter, as revenue declined 7 percent to $138.6 million. The company also pushed back its profitability target (before interest, taxes, depreciations, and amortization) to the fourth quarter instead of the third quarter, and announced that it will need more cash before the year’s end to stay afloat. Shares of Excite@home are trading at $1.80, down 90 percent from their 52-week high.

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