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Technology Stocks : PRTG (PRT Group) -- Ignore unavailable to you. Want to Upgrade?

To: Anthony Wong who wrote (38)	3/6/1998 1:15:00 PM
From: Anthony Wong	Respond to of 128

More news March 06, 1998 11:51 AM PRT Group Shares Plunge Amid News Company Expects 1st-Quarter Loss NEW YORK -(Dow Jones)- PRT Group Inc. shares fell nearly 50% to a new low in early trading Friday, after the provider of information-technology software said it will report a first-quarter loss of $3 million on increased expenses. Late Friday morning, the shares were at $10, down $9.125, or 47.7%; they had been as low as $9.75. Nasdaq volume was 3.8 million shares, more than 24 times the daily average of 156,000. The company, which went public in November of 1997, said it also expects first-quarter revenue to be less than the $19.8 million taken in during the fourth quarter. PRT Group (PRTG) cited customer delays in the start-up of new projects and changes in ramp-up plans for existing projects. Tarun Chandra, an analyst at Punk Ziegel & Co., said the earnings revision means the company will post a first-quarter loss of about 16 cents a share, as opposed to the profit of nine cents a share that his firm had anticipated. Accordingly, the analyst said he is lowering his rating on PRT Group stock to "market performer" from "buy." A First Call survey of four analysts covering PRT Group had put the company's first-quarter net income at eight cents a share. Company officials weren't immediately available for comment. -Justin A. Oppelaar; 201-938-5175 Copyright (c) 1998 Dow Jones & Company, Inc. All Rights Reserved.