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LUMINANT SAYS IT WILL ACHIEVE PROFITABILITY

Published on .

(May 15, 2001) -- In the release of its full financial results for the first quarter, Luminant Worldwide, Dallas, reiterated its plans for moving toward profitability.

Last week the company reported positive sequential growth and a return to profitability for the first quarter, with revenues of $23.9 million, a 5% increase over the $22.8 million reported in the fourth quarter of 2000. Its net loss was $17.2 million, or 63 cents per share.

The company's cash and restricted cash position at the end of the quarter was about $10 million, and it expects cash flow from operations to be positive for the rest of the year. It also cut costs by more than $15 million from the previous quarter. -- Adrienne Mand

Copyright May 2001, Crain Communications Inc.

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