Covad Posts 4th-Quarter Profit, Increase in Sales

Covad Communications Group Inc., an Internet services provider that emerged from bankruptcy in December, had a fourth-quarter profit and a 62% increase in sales, the company reported.

Net income was $858.5 million, or $4.69 a share, compared with a loss of $907.5 million, or $5.40, a year earlier. Covad, which sells high-speed links to the Internet through digital subscriber lines, said sales rose to $89.5 million from $55.2 million.

Shares of Covad rose 45 cents to $2.39 on the electronic OTC Bulletin Board.