DLJdirect Posts Narrower-Than-Expected Loss
Online brokerage firm
DLJdirect
(DIR)
, posted a narrower-than-expected loss for the third quarter, helped by growth of its global accounts and its technology division
iNautix Technologies
.
The firm, a tracking stock of Swiss banking and insurance group
Credit Suisse First Boston
, which recently bought
TheStreet Recommends
Donaldson Lufkin & Jenrette
(DLJ)
, lost $4 million, or 4 cents a share, compared with last year's third-quarter loss of $3.3 million, or 3 cents a share. A
First Call/Thomson Financial
survey of 10 analysts estimated a loss of 5 cents a share.
Quarterly revenue for the Jersey City, N.J., brokerage grew 44% to $79.3 million, down from $55.1 million in the year-ago period.
Its shares were higher by 1.33%, or 6 cents, to $4.75 just after the open on the
New York Stock Exchange
.
