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After a Day's Delay, PurchasePro Posts Loss

 

Updated from 11:13 a.m. ET

Nothing good came to anyone who waited for PurchasePro.com's (PPRO Quote) first-quarter results.

After preannouncing on the day of its scheduled earnings release Wednesday, and then postponing its results and conference call until this morning, PurchasePro badly missed the consensus estimate. The company posted a loss of 2 cents per share, compared with analysts' expectations for a profit, on revenue reduced to $29.8 million because of accounting concerns.

Analysts expected the company would earn 8 cents a share on revenue of $41 million, according to Thomson Financial/First Call. ...

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