Metromedia Fiber loss widens

Metromedia Fiber Network, a builder of communications networks in the United States and Europe, said its first-quarter loss widened on higher depreciation and amortization expenses. The loss widened to $148.3 million, or 26 cents a share, from $85.2 million, or 16 cents, in the year-earlier period. Sales more than doubled to $77 million from $31.9 million, beating forecasts of $74 million, Metromedia said. The company was expected to lose 31 cents, according to a poll of analysts by First Call.

The White Plains, N,Y.-based company plans to have fiber-optic networks in 51 North American cities and 16 European cities by 2004. To date, Metromedia has networks operating in 27 cities with 33 others under construction and the remainder in the engineering phase, the company said.

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