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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.