Certicom Drops on Results, Job Cuts - TheStreet

Certicom (CERT) was down 30% in midday trading after the security provider for wireless e-business posted a fourth-quarter loss of 29 cents a share, excluding items, and said it would cut 30% of its workforce and taking a $5 million charge.

Including charges, Certicom's loss was 46 cents a share, vs. 30 cents in the same period a year ago. Analysts were expecting a loss of 31 cents a share, according to

Thomson Financial/First Call

. Revenue for 2001 increased 121% over 2000, the company said.

A conference call was scheduled for 11 a.m.