Computer Horizons Drops Guidance

It cites a weak economy and the Northeast blackout.
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IT staffing firm

Computer Horizons


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

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.