’s predicts first-quarter will be off

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In releasing its fourth-quarter financial results, New York Internet services firm reported pro form revenues of $56 million, a 75% increase from pro forma results in the same quarter last year. However, Chairman-CEO Chan Suh said in a statement that "based on the uncertain near-term demand environment and our currentvisibility, our current outlook for our first-quarter 2001 revenues isbetween $40 and $45 million, with a cash EPS loss between (eight cents) and(15 cents) on a fully taxed basis." He said the company had a series of revenue initiativesunder way to help ease the downturn in Internet advertising, which has shaken the entire industry. In December, laid off 190 staffers and closed its Vail, Colo.-based office.

Copyright February 2001, Crain Communications Inc.

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