In releasing its fourth-quarter financial results, New York Internet services firm Agency.com 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, Agency.com laid off 190 staffers and closed its Vail, Colo.-based office.
Copyright February 2001, Crain Communications Inc.