INFT continues to break even:
Inforte 3rd quarter earnings down 95 percent
CHICAGO,, Oct 11 (Reuters) - Technology consultancy Inforte Corp. <INFT.O> on Thursday said its third-quarter profits plummeted 95 percent, but will meet its fourth-quarter earnings forecast of break even.
Inforte said it earned $109,400, or 1 cent a share in the third quarter, down from $2.1 million, or 15 cents a diluted share a year ago. Revenues fell to $10.6 million, from $17.8 million last year.
The company said it continues to expect earnings to break even, and revenues of $10 million in each quarter going forward. It sees full-year 2001 cash earnings per share of 9 cents, including a non-cash compensation charge. It sees full-year revenues of $47.2 million.
"The uncertain economic outlook does make this a low confidence forecast and future guidance reductions remain possible," said Chief Financial Officer Nick Padgett.
Inforte said the Sept. 11 attack has caused "minor business disruptions, distractions and travel delays" causing it to remain "cautious" about the timing of an economic recovery and a sustained increase in information technology services spending.
16:53 10-11-01 |
