Downturn music to Orchestream's ears

NEWS The company said, with the current climate, carriers are focusing on better economic returns on previous investments. CEO Ashley Ward said this trend has benefited Orchestream and given the company a very promising outlook. Despite the upturn, losses widened to £2.2m compared to a net loss for Q4 2000 of £1.9m. However, factors contributing to this were Orchestream's secondary listing on the Nasdaq and the £24.7m acquisition of Crosskeys Systems completed on 11 April. During Q1 the internet software group added nine new customers including Telstra of Australia, Teleglobe of the US and Torch Telecom in the UK. Boosted by the results, shares were up eight percent in early trading to 126p.