marchFIRST Plummets After Third-Quarter Earnings Report - TheStreet

Shares of

marchFIRST

(MRCH)

plummeted after the company reported third-quarter supplemental income of $2 million, or 1 cent a diluted share, as earnings were hurt by a downturn in the professional services market, changing e-commerce priorities and the weakness of the euro.

Shares of the professional services firm were recently down $6.34, or 54%, to $5.41 in

Nasdaq

trading.

Supplemental income in the latest quarter excludes merger and stock-compensation costs and other expenses.

According to a

First Call/Thomson Financial

survey, 25 analysts were expecting the company to earn 20 cents a share for the quarter.

In the year-ago period, the company reported supplemental income of $9.9 million, or 16 cents a diluted share.

Third-quarter revenue rose 24% from last year to $369.4 million. The company said "the environment for professional services over the past few months has been challenging. During this same period, marchFIRST laid the foundation for long-term growth by completing our extensive integration process."