Leap Group, Chicago, reported a $3 million net loss for the quarter ended Oct. 31, compared to net income of $435,000 a year ago, despite a 44% increase in revenue in the 1997 quarter to $7.2 million. The loss included a one-time charge of $1.2 million related to Leap's restructuring of its Los Angeles operations. For the nine months ended Oct. 31, Leap posted a net loss of $5.7 million, compared to net income of $692,000 a year ago. Revenues for the period were $19.2 million, a 57% increase over last year. The company said it is implementing cost reductions that will bring it back to profitability during the next fiscal year.
Copyright December 1997, Crain Communications Inc.