Posts Profit, Cuts Staff to Three

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said its third-quarter net income was $516,000, or 8 cents a share, compared with a loss of $933,000, or 12 cents a share, in the year-ago period.

Third-quarter revenue was $391,000, down 65% from third-quarter 2000's $1.12 million.

The fashion and shopping portal operator also said it no longer expects to achieve the total sales or non-barter sales of last year. According to a press release, the company has reduced its staff to three, and if business continues to erode, may choose to discontinue the current operating business and look for other business opportunities.