Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: Defrocked who wrote (71540)	10/25/1999 11:15:00 AM
From: Ken98	Read Replies (1) \| Respond to of 86076

Another nuclear winter victim: <<Cambridge Tech sees lower Q4 EPS CAMBRIDGE, Mass., Oct 25 (Reuters) - Cambridge Technology Partners Inc. said on Monday it would have sharply lower fourth-quarter earnings due to higher employee compensation costs and reduced revenues. The company, which provides management and consulting services to clients seeking to do business on the Internet, said it expects earnings to be at least 45 cents lower than analysts' consensus estimate of 16 cents per share, as compiled by First Call/Thomson Financial. The warning came as the company reported third-quarter earnings of 18 cents per diluted share, beating analysts' consensus estimate of 14 cents. Cambridge said the expected shortfall in the fourth quarter would reflect a pre-tax charge of $12 million to $17 million for an additional 50 percent employee bonus program. Bonuses will be increased to 100 percent of targeted levels and the extra amount will be performance-based, it said. Increased bonuses are being undertaken to address an employee turnover rate higher than Cambridge's target of 20 percent, said Jack Messman, president and chief executive. Messman took over leadership of the company in July after co-founder James Sims resigned as president and chief executive to start a new business. Cambridge said it expects revenues for the fourth quarter to be $150 million to $155 million. It said the issues surrounding turnover, project delays due to the Y2K computer situation, and the associated slowdown in PeopleSoft implementation services remain unclear for the rest of 1999 and into the early part of 2000. It said that as it completes its budget process, ``there may be additional initiatives undertaken that further decrease earnings for the fourth quarter of 1999.'>> I know, I know, nuclear winter is a myth. It has to be so - thats what Microsoft said....