Networker tops third quarter estimates
By Steve Gelsi & Tomi Kilgore, CBS.MarketWatch.com
Last Update: 7:55 AM ET Oct. 11, 2001
CAMBRIDGE, Mass. (CBS.MW) - Akamai said it'll cut up to 25 percent of its
staff, or about 200 positions, as it reported a lower than expected third
quarter loss on Thursday.
Akamai (AKAM: news, chart, profile) reported a
third-quarter net losses, in accordance with generally
accepted accounting principles, of $55.4 million, or
53 cents a share, down from a loss of $304 million,
or $3.27 per share in the year-ago period, and less
than the $92.6 million, or 91 cents a share it lost in
the sequential second quarter.
The net loss, before amortization and other one-time
charges, totaled $38.2 million, or 37 cents a share,
narrower than the consensus analyst loss estimate compiled by Thomson
Financial/First Call of 43 cents a share.
Revenue for the period rose 57.4 percent over the same period a year earlier to
$42.8 million, versus analyst forecasts of $42.5 million.
The company added that it was taking further steps toward profitability by
reducing its overall workforce by up to 25 percent in the current quarter.
That amounts to up to 200 jobs out of 1,100 workers employed there now.
It'll be the second job trim for Akamai this year. In April, the company laid off
about 14 percent, or 200 workers.
Akamai reported 1300 employees at the end of 2000.
The provider of e-business enabling software and services said it expected to
report fourth-quarter losses of 38 to 40 cents a share on sales $34 million to $36
million, while analysts are currently expecting losses of 41 cents a share on
sales of $45.02 million.
The stock closed Wednesday up 62 cents at $4.08.
In Frankfurt für 4,85. Shortanteil bei AKAM ca. 30%
chart.bigcharts.com/bc3/quickchart/...33&mocktick=1&rand=3343" style="max-width:560px" >
Schaun mer mal.
Gruß Dr. Broemme
By Steve Gelsi & Tomi Kilgore, CBS.MarketWatch.com
Last Update: 7:55 AM ET Oct. 11, 2001
CAMBRIDGE, Mass. (CBS.MW) - Akamai said it'll cut up to 25 percent of its
staff, or about 200 positions, as it reported a lower than expected third
quarter loss on Thursday.
Akamai (AKAM: news, chart, profile) reported a
third-quarter net losses, in accordance with generally
accepted accounting principles, of $55.4 million, or
53 cents a share, down from a loss of $304 million,
or $3.27 per share in the year-ago period, and less
than the $92.6 million, or 91 cents a share it lost in
the sequential second quarter.
The net loss, before amortization and other one-time
charges, totaled $38.2 million, or 37 cents a share,
narrower than the consensus analyst loss estimate compiled by Thomson
Financial/First Call of 43 cents a share.
Revenue for the period rose 57.4 percent over the same period a year earlier to
$42.8 million, versus analyst forecasts of $42.5 million.
The company added that it was taking further steps toward profitability by
reducing its overall workforce by up to 25 percent in the current quarter.
That amounts to up to 200 jobs out of 1,100 workers employed there now.
It'll be the second job trim for Akamai this year. In April, the company laid off
about 14 percent, or 200 workers.
Akamai reported 1300 employees at the end of 2000.
The provider of e-business enabling software and services said it expected to
report fourth-quarter losses of 38 to 40 cents a share on sales $34 million to $36
million, while analysts are currently expecting losses of 41 cents a share on
sales of $45.02 million.
The stock closed Wednesday up 62 cents at $4.08.
In Frankfurt für 4,85. Shortanteil bei AKAM ca. 30%
Schaun mer mal.
Gruß Dr. Broemme
