CORESTAFF (CSTF), now MMWW Message Board

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Non-Tech : CORESTAFF (CSTF), now MMWW

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To: Tom Hua who wrote (177)	10/26/1999 9:36:00 PM
From: Mad2	Read Replies (1) of 257

Earnings are in; biz.yahoo.com While the eps is good, the news is mixed.... Highlights 1) Revenue was strong with earnings in .01 above the est of .16/share 2) Margin declined in the period between 1.5 and .9% Gross profit for the quarter increased 54 percent to $60.8 million. Gross margin was 39.7 percent compared with 41.2 percent for the third quarter of 1998. The decline in gross margin primarily resulted from acquisitions of businesses that had gross margins lower than the company's consolidated margin for the third quarter of 1998 and, to a lesser extent, lower utilization in certain business units. On a pro forma basis, gross margin for the third quarter was 40.1 percent, compared with 40.9 percent for the third quarter of 1998. This decline reflected lower utilization in certain business units. 3) Warned of earning shortfall in 4th qtr, projecting flat revenue growth (compared to 3rd qtr) and projected earnings of 1-3 mil down from 5.7 mil in the 3rd qtr. Attributed to Holiday/Y2K slow down in project initiation and increased spending related to Xpedior. Best Regards, Mad2

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