For the quarter ending Dec. 31, 2001, USOL reported revenue of $3.9 million in comparison to $2.8 million in the previous year. The net loss for the quarter was $3.6 million, down $6 million from the 2000 fourth quarter. For all of 2001, revenue rose to $14.5 million from $10.2 million in 2000. The net loss was $10.5 million in comparison to a net loss of $22.5 in 2000. The company said the number of subscribers at yearend were 22% higher than the previous year and that passings, units capable of receiving an individual service, were up 52% year-over-year.
The company was late in filing its financial results. In a filing with the Securities and Exchange Commission, USOL said its accounting firm, Arthur Andersen LLP, was "distracted" by other business and unable to finish USOL audits on time.
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