said Friday it expects to lose $1.40 a share for the fourth quarter, a performance that falls well short of Wall Street's expectations.
Eight analysts polled by
First Call/Thomson Financial
were expecting the Atlanta-based business-to-business e-commerce company to post a loss of 53 cents for the fourth quarter.
Clarus said it expects fourth-quarter revenue to be between $4 million and $4.5 million, well off the $17.6 million revenue projected by analysts.
Clarus also announced changes in its business model that it said would bring it to profitability in 2002. The company will focus on the mid- to large-enterprise market. In addition, it plans to recognize revenue over a 12- to 14-month period rather than immediately, which will have the effect of increasing the sales backlog at the expense of current revenue. The change "will provide a more stable and predictable business model," the company said in a statement.
For the 2001 fiscal year, Clarus says it expects revenue of $45 million to $50 million, compared with analysts' projections of $114.7 million, and a per-share loss of $2.14, compared with analysts' projected per-share loss of 76 cents.
Clarus said it expects to reach profitability during the second quarter fiscal 2002, with revenues for the year of between $115 million to $120 million and earnings per share of $1.08.
Shares were down 25 cents, or 3.5% to $7 in recent