IXL, Atlanta, reported revenue was down dramatically for the first quarter at $40.7 million, compared to $103.3 million during the same period of 2000. Net loss was $25.3 million, compared to $2.1 million last year. Recently named President and CEO Christopher M. Formant noted that the company narrowed losses from the fourth quarter through "significantly reduced overhead and flattened layers of management."
Scient, San Francisco, reported fiscal fourth-quarter revenues of $27.1 million, down 66% compared to $65.8 million in the same period last year. The company blamed "continued economic uncertainty, which has caused our clients to delay large up-front commitments for technology initiatives."
Scient also reported an operating loss of $31.7 million and a net loss per diluted share of 38 cents for the quarter. This compares to an operating loss of $12.7 million or net loss per share of 13 cents in the last quarter.
In addition, Scient announced April 11 that it would cut 675 jobs with the potential for an additional 175 layoffs. The initial 675 should be eliminated by the end of June, and some management positions have already been axed. -- Adrienne Mand
Copyright April 2001, Crain Communications Inc.