MessageMedia sees fourth-qtr loss, cuts jobs, expenses
SUPERIOR, Colo., Dec 14 (Reuters) - E-mail marketer MessageMedia Inc. said on Thursday it expects a fourth-quarter loss and it will cut 100 jobs, operating expenditures and reduce investments in an effort to lower costs.
The Superior, Colo.-based company said it expects a fourth-quarter loss, prior to a non-recurring restructuring charge of about $1.8 million, of 43 cents to 44 cents per share.
Fourth-quarter revenues will range between $7 million and $8 million, the company said, up from $4.9 million in the fourth quarter of 1999 but down from its third-quarter 2000 revenues of $10.2 million, the company said. The company said it expects revenue to grow 20 to 25 percent in 2001, with modest growth in the first and second quarters.
MessageMedia expects e-mail marketing revenues in the quarter be flat compared to the third quarter. Software revenues are expected to fall about 70 percent from the third quarter of 2000.
The company said it will cut about 100 positions domestically, operating expenditures and investments in product areas such as wireless and online customer care to bring the company's overhead and operating expenses in line with projected revenue levels. The company said the cost-cutting program will save about $3.5 million to $4 million per quarter. |
