INFT to get hammered tomorrow.
biz.yahoo.com
Thursday January 25, 6:18 pm Eastern Time
CORRECTED - Inforte sees Q1 profit below consensus estimate
In CHICAGO story ``Inforte sees Q4 profit below consensus estimate,'' please read headline as ``Inforte sees Q1 profit belowconsensus estimate.'' (Corrects quarter.)
CHICAGO, Jan 25 (Reuters) - Technology consultant company Inforte Corp. (NasdaqNM:INFT - news) on Thursday said it expects to post a first-quarter profit of 6 to 11 cents per diluted share, which is below the consensus estimate.
According to First Call/Thomson Financial, the mean estimate was for a 14 cent profit based on a survey of 6 brokers.
The Chicago-based company forecast a profit of 30 to 50 cents per diluted share for 2001, which is below the First Call estimate of 64 cents a share.
Inforte said it expected to post a profit of 45 to 57 per diluted share for 2002, also below First Call's estimate of 85 cents.
``Looking forward, we believe the marketplace in 2001 will be more challenging than in 2000 due to the recent economic slowdown, plus the impact that fears of further economic slowdown may have on information technology spending,'' Phil Bligh, chairman, president and chief executive of Inforte said in a written statement.
Earlier, the company reported a fourth quarter profit of 14 cents per diluted share, a penny better than the First Call consensus, and up from the year ago quarter when Inforte reported a profit of 7 cents per pro forma diluted share.
For the full year, Inforte earned 51 cents per share, up from 21 cents per pro form diluted share and a penny better than First Call's mean estimate.
Inforte shares closed at $23, up 3, but still well off its 52-week high at $100-1/8. |
