loss narrows; company to cut jobs THURSDAY, FEBRUARY 14, 2002 4:39 PM - Reuters U.S. Company News SUNNYVALE, Calif., Feb 14 (Reuters) - CacheFlow Inc. (CFLO) , a developer of networking systems, on Thursday reported a narrower loss in its fiscal third-quarter ended Jan. 31, and said it aimed to cut 45 percent to 50 percent of its headcount to better address the current market. CacheFlow's third-quarter loss, excluding charges, was $12.2 million, or a loss of 29 cents per share, compared with a loss, excluding charges, of $18.3 million, or 49 cents per share, a year earlier. Analysts on average expected CacheFlow to post a loss, excluding charges, of 26 cents a share, with individual estimates ranging between a loss of 23 and 30 cents a share, according to research firm Thomson Financial/First Call. CacheFlow's third-quarter net loss including deferred stock compensation, amortization of intangibles and asset impairment, was $21.0 million or 50 cents per share, versus a net loss including charges of $119.2 million, or $3.19 per share, a year earlier. CacheFlow's third-quarter net sales were $10.9 million, compared with $21.2 million in the same period a year earlier. The company's shares closed on Thursday at $1.17, down 9 cents, or 7 percent. The shares have lost 82.5 percent of their value over the past 52 weeks, according to Thomson Financial/First Call.