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met analysts' sharply lowered fourth-quarter expectations, but said revenue rell 5% from the year-ago period.

For the fourth quarter ended Dec. 31, the digital design and consulting company reported a loss, before the amortization of intangibles and nonrecurring expenses, of $19.8 million, or 20 cents a share, matching Wall Street's lowered estimates. The company earned $5.8 million, or 6 cents a share, in the year-ago period.

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Revenue fell to $50.1 million from $52.7 million in the same period last year.

Earlier this week, Razorfish axed 400 jobs around the world as part of an attempt to save about $70 million in 2001.

The New York-based company

guided down in December, saying it expected to post a fourth-quarter loss of 17 cents to 22 cents a share, while analysts were looking for a profit of 2 cents.