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MarchFirst's low earnings in 3rd quarter drag down stock

Published on .

Chicago-based Internet consultancy MarchFirst on Oct. 24 reported a third-quarter net loss of $437 million, or $2.86 a share, compared with earnings of $9 million for the same period last year. The earnings fell far below the expectations of analysts, who projected MarchFirst would earn 20 cents a share for the quarter, not 1 cent. The news sent the company's stock plunging to $4.19 Oct. 25, dropping another 14.1% from the Oct. 24 close of $4.88.

Copyright October 2000, Crain Communications Inc.

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