Publish date:

Computer Horizons Drops Guidance

It cites a weak economy and the Northeast blackout.

IT staffing firm

Computer Horizons


lowered earnings and revenue guidance for the third quarter, saying lingering economic weakness and the Northeast blackout crimped results.

TheStreet Recommends

The company forecast quarterly revenue of $63 million to $65 million and a loss of 1 cents to 3 cents a share before special items. The company had previously predicted revenue in the range of $66 million to $68 million and income before items 2 cents to 4 cents a share, excluding special items.

The company said fourth-quarter revenue would be higher than the third's but no profit would materialize before 2004.

Analysts surveyed by Thomson First Call were forecasting earnings of 2 cents a share in the third quarter and 4 cents a share in the fourth quarter.

The shares were off 35 cents, or 9.5%, to $3.35 on the Instinet late session.