The Street may unsubstantially try to lump TAVA in with this:(DDIM)
Data Dimensions sees Q4, FY98 EPS below estimates
BELLEVUE, Wash., Dec 18 (Reuters) - Data Dimensions, Inc. <DDIM.O> said on Friday it expects fourth quarter and fiscal 1998 earnings to fall short of analyst's expectations due to Year 2000 budget pressures and delays in consulting agreements.
The company, an information technology consulting firm focused on Year 2000 solutions, said fiscal year profits should come in between 69 and 74 cents, excluding non-recurring charges, or between 65 to 70 cents, including charges. Wall Street analysts' estimates for the quarter is 32 cents a share and 83 cents a share for the year, according to First Call, a company that tracks such forecasts.
Data Dimensions said it lost 22 cents a share in 1997, including charges. The company did not include further details on its fourth quarter estimates.
"The current outlook for the fourth quarter reflects several factors, including a reduction in Year 2000 remediation work due to certain clients' budgetary pressures, the deferral of Year 2000 project work, and delays in other information technology consulting agreements," the company said in a release.
"While we are disappointed that early indications show earnings per share coming in short of expectations, the company has experienced significant revenue and earnings growth this year," said Larry Martin, the company's chairman.
"Additionally, we have broadened our senior management team and diversified our revenue base, both of which positions us well for future growth."
Final results for the fourth quarter and full year will be announced January 28, 1999, the company said.
08:21 12-18-98 |
