Venezuela's CANTV sees $73 mln-$195 mln 2003 loss

<a href=reuters.com>Reuters Mon April 28, 2003 09:49 AM ET

CARACAS, Venezuela, April 28 (Reuters) - Venezuela's No. 1 telephone company CANTV TDVd.CR VNT.N on Monday forecast a 2003 net loss of $73 million to $195 million compared with a 2002 profit of $44 million as it predicted declines in its wireline market and a flat wireless market.

CANTV, whose main shareholder is U.S. telephone company Verizon Communications VZ.N , expects a 2003 year loss of 64 cents to $1.74 per share on an American Depositary Share basis.

For 2003, CANTV sees consolidated revenues of $1.75 billion to $1.95 billion and earnings before interest, taxes, depreciation and amortization (EBITDA) of $535 million to $650 million.

The forecast used a 2003 exchange rate of 1,850 bolivars to the U.S. dollar.