Jupiter Media Metrix expects lower 4Q results; plans to lay off 80

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Jupiter Media Metrix showed that it, too, was vulnerable from the dot-com downturn. The research and measurement company downgraded its revenue expectations for the fourth quarter of 2000 to between $38.2 million and $38.5 million, from $39.5 million to $42 million. Projected net loss, excluding amortization, is expected to be between 22 cents and 23 cents per share, vs. previous estimates of a loss of a penny per share. The company will release results from the quarter ended Dec. 31, 2000 on Feb. 8.

"The rapidly softening economy directly impacted our revenues, and left us with expenses that were based on previously planned, higher growth rates," said Tod Johnson, Jupiter Media Metrix CEO. "Moreover, unanticipated costs in our international expansion initiatives, and several one-time costs related to our recent merger, resulted in higher overall costs." The company, which includes Jupiter Research and Media Metrix, said it will lay off eight percent, or 80 employees, to lower operating costs in line with current market conditions. Mr. Johnson said Jupiter will continue to focus on reaching profitability in 2001 by pursuing revenue growth opportunities while effectively managing expenses.

Copyright January 2001, Crain Communications Inc.

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