Tiscali 2011 Loss Widens on Writedown for Unpaid Customer Bills

Tiscali SpA (TIS), an Italian phone and Internet company, reported a 2011 net loss as it had writedowns for unpaid bills from customers.

The loss of 38.1 million euros ($51 million) compares with a loss of 24.3 million euros in the year-earlier period, the Cagliari-based company said in a statement late yesterday.

Tiscali forecast a return to profit in 2012, with revenue expected to be in line with 2011 results.

To contact the reporters on this story: Chiara Vasarri in Milan at cvasarri@bloomberg.net; Nadine Skoczylas in Rome at nelsibai@bloomberg.net

To contact the editor responsible for this story: Andrew Davis at abdavis@bloomberg.net

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