Grey reported first-quarter net income of $245,000, compared to $5.1 million for the same period in 2000. Additionally, Grey's earnings per common share were 27 cents for the quarter, versus $4.11 in the same period last year.
The company stated that its first-quarter results were adversely affected by "general weak business conditions in the U.S." In addition, Grey noted "weakness, in particular, in a number of operations which had a concentration in serving certain technology-related and telecom sector clients." -- Laura Hughes
Copyright May 2001, Crain Communications Inc.