Viant Warns of Third-Quarter Shortfall; Stock Slammed After Hours

Viant (VIAN Quote) warned after Thursday's close that it expects to report a loss for the third quarter of 2000.

The 14-analyst First Call/Thomson Financial estimate called for third-quarter earnings of 8 cents a share. The Internet consulting company expects revenue for the third quarter to fall about 12% to 15% below the $38.5 million revenue figure reported for the second quarter. In the third quarter of 1999, Viant reported revenue of $18.8 million and net income of 3 cents a share.

Viant shares were down $3.88 to $10 in after-hours Island trading. They ended the regular session down 63 cents to $13.88.

President and CEO Bob Gett attributed the revenue shortfall to the perception that "many Global 2000 companies have slowed down their e-business initiatives and have taken the opportunity to step back and revisit their strategies." ...