MarchFirst Falls 27.5% as It Misses, Warns
MarchFirst
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was down 27.5% in preopen
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trading. After the close Monday, the Internet consulting company posted a fourth-quarter loss of 40 cents per share vs. the Street's estimate of a 30-cent loss and a year-ago 16-cent profit.
Using generally accepted accounting principles, the company lost $37.09 per share in the quarter. The company also warned that it expects a first-quarter loss of 22 to 31 cents per share. The Street's estimate is a 6-cent loss. MarchFirst recently cut 2,100 people in a bid to control spending.
