Critical Path Sees Fourth-Quarter Income in Line With Estimates
Critical Path
(CPTH)
expects to report a fourth-quarter profit in line with analysts' expectations, amid continued high demand for its products and services.
The San Francisco company, which provides Internet messaging infrastructure, forecast fourth-quarter earnings of a penny a share, compared with a loss of 26 cents a share in the same period last year. The fourth-quarter estimate meets the 14-analyst consensus estimate on
First Call/Thomson Financial
.
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The company said it sees revenue for the fourth quarter of $54 million to $56 million, up 22% from the latest third quarter.
For 2001, the company expects revenue to grow about 95% from 2000, to between $300 million and $310 million, with pro forma earnings per share reaching 39 cents to 41 cents. Wall Street expects the company to lose 76 cents a share in 2000 and earn 40 cents a share in 2001.
The company recently posted a third-quarter loss of $8.7 million, or 14 cents a share, excluding items, on revenue of $45 million.
Shares of Critical Path were recently down $1.13, or 2.3%, to $48 in
Nasdaq
trading.
