PurchasePro.com Delays First-Quarter Report for a Day

Updated from 5:19 PM

Maybe the numbers will look better in the morning. Then again, don't hold your breath.

After issuing a surprise preannouncement this morning that it wouldn't meet first-quarter consensus estimates when it was set to release the results this afternoon, PurchasePro.com(PPRO Quote) has scrapped its plans and decided to shoot for another day entirely.

The company said it won't release its results or hold its quarterly conference call, which was scheduled for 5 p.m. ET Wednesday. Instead, PurchasePro will tell the world about its numbers Thursday morning at 8:15 a.m. The company gave no reason for the rescheduling, announced 20 minutes before the call was scheduled to start.

The company also was dealt a setback by a Nevada District Court judge who Wednesday denied PurchasePro's motion to dismiss a lawsuit that claims the company was founded on a stolen business plan.

PurchasePro's shares plunged 35.7% Wednesday, off $2.22, to $4. In after-hours trading, after the company nixed its conference call, the stock fell further to $3.85 on Island.