LOA reports advance from last year, despite decline

PROVIDENCE — Log On America reported a 112 percent rise in sales from the fourth quarter of 1999. The company reported sales of $3.5 million for the last quarter of 2000, compared with $1.7 million in 1999. Despite that comparable advance, LOA noted that its fourth quarter sales represented a 6 percent decline from the third quarter when sales reached $3.7 million. For the year LOA reported a 280 percent increase in sales to $12.7 million, compared with $3.3 million in 1999. The company reported a net loss for the year of $22.7 million, or $2.41 a share, up from $5.3 million or 80 cents a share in 1999.