Not exactly--it can also mean "I haven't received a response yet". So you're probably terminating the loop before the other side ever had a chance to reply. (Considering the timing, you may be exiting before the other computer even received the request.)
Update: It can also mean "The network is really busy, so the next packet hasn't arrived yet." That could be a problem if you've received only part of your response.
When your only tool is a hammer, all problems look like your thumb.