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Technology Stocks : CATP-The stock is taking off -- Ignore unavailable to you. Want to Upgrade?

To: bob zagorin who wrote (771)	7/27/2000 10:51:04 AM
From: Ram Seetharaman	Respond to of 782

CATP earnings stink! Profitability in the next quarter! Good time to buy! May see $ 20+ next year! Thursday July 27, 9:34 am Eastern Time Cambridge sees return to profitability in Q4 CAMBRIDGE, Mass., July 27 (Reuters) - Cambridge Technology Partners (Massachusetts) Inc. (NasdaqNM:CATP - news) said Thursday it expects to return to profitability in the fourth quarter, but it sees its traditional business of integrating electronic business systems declining by 30 to 40 percent this year as it moves more into consulting on Internet strategies. The announcement came as Cambridge reported a net loss for the second quarter of $11 million, or 18 cents per share, compared with net income of $1.2 million, or 2 cents per share, a year earlier. The per-share loss was greater than the loss of 12 cents expected by Wall Street analysts polled by First Call/Thomson Financial. In its financial statement, the company said it had previously stated that its traditional business should decline by 20 to 30 percent from a base of $261 million in 1999. ``Considering the acceleration of its business to e-solutions, the company now expects its traditional business to decline at a rate of 30 percent to 40 percent, greater than previously expected,'' Cambridge Partners said. The company expects its Change Management Consulting practice to grow at 10 to 15 percent for the year, it said. The change in guidance is primarily due to the negative impact of foreign exchange, it said. Cambridge Partners also said it expects to return to profitability in the fourth quarter. Chief Financial Officer John Gavin said the company's traditional business was helping client companies to integrate software systems. Cambridge was now more involved in the Web, consulting with customers to set up Internet strategies, he said.