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Strategies & Market Trends : Making Money is Main Objective

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To: Softechie who started this subject	5/24/2001 12:19:35 PM
From: Softechie	Read Replies (1) of 2155

DJ PurchasePro/10-Q -3: Shrs At $2.54 In Late Trading 23 May 21:34 In April, PurchasePro warned that it would miss first quarter earnings expectations due to the deferred recognition of certain license revenue. PurchasePro executives said they had to defer the recognition of two contracts totaling $4.1 million related to the company's marketing relationships with AOL Time Warner Inc. (AOL). PurchasePro also delayed recognition of a $3.7 million contract because of questions about a customer's creditworthiness. On May 15, the company filed a notification of a non-timely 10-Q report, citing unanticipated delays in completing some financial information. On Monday, the company said Charles Johnson Jr. resigned as chairman and chief executive, and named board member R. Todd Bradley chairman. Several shareholder lawsuits have been filed against the company. PurchasePro shares last trading at $2.54 after hours on the Island ECN. The stock closed the regular Nasdaq session at $2.48, down 10 cents or 3.9%. PurchasePro reached a 52-week high of $47.75 on Sept. 29; it reached a year low of $2.10 last week. Company Web site purchasepro.com -Josh Beckerman; Dow Jones Newswires; 201-938-5400 (END) DOW JONES NEWS 05-23-01 09:34 PM

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