Print
E-mail
Share
digg
Newsvine
Facebook
Stumble
Technorati
reddit
Fark
twitterLV tech firm’s stock slumps on earnings report
Wednesday, Nov. 14, 2001 | 9:43 a.m.
The stock of PurchasePro, a Las Vegas technology company, tumbled 35 percent this morning after the company on Tuesday reported a huge loss on asset write-downs and said business is struggling because of the slowdown in the U.S. economy.
Excluding special items, including $98 million in write-downs, PurchasePro lost $28.2 million in its third quarter ending Sept. 30. After special items, PurchasePro lost $106 million or $1.46 per share vs. a loss in the year-ago quarter of $8.2 million or 13 cents.
Revenue fell from $17.4 million to $3.6 million.
Last month, PurchasePro said it fired 125 employees, reducing its head count in half. PurchasePro's staff peaked above 600 last winter before its financial troubles unfolded, leading to massive layoffs.
PurchasePro stock fell 30 cents this morning to 55 cents.
archive
- Most Read
- Discussed
- Most E-mailed
- Pinnacle CEO resigns after meeting confrontation
- As earnings fall, Riviera unsure if bankruptcy can be avoided
- Trial set for parents of boy, 4, who died in hot vehicle
- Scientology foe’s arrest raises issue of rights
- Wynn Resorts to begin paying shareholder dividend
- Las Vegas home prices, sales rise in October
- Miguel Cotto camp says big cut in June fight an asset now
- NY-NY sues Calif. man alleging trademark infringement
- If you can rebuild the whole car, then why not allow an engine change?
- Cada cherishes moment as poker’s youngest champ
Blogs
The Kats Report
Of tanking, drugs and 'Slim': In 'Open,' Andre Agassi beats the odds
Robin Leach's Las Vegas Celebrity Watch
Who are the Final Four on Dancing With the Stars?
Politics: Ralston's Flash
Drugs bring Nevada governor, first lady back together (3 Comments)
Elsewhere
Macau's gambling industry faces nightmare of water rationing (3 Comments)
Top Chef: Las Vegas
Top Chef Odds Week 11: And then there were six
Politics: The Early Line
Rep. Berkley livens health care debate with story of her own (1 Comment)
Now and Then
Wranglers to face familiar foe and that's putting it mildly
Calendar »
- 11 Wed
- 12 Thu
- 13 Fri
- 14 Sat
- 15 Sun
-
Days of the New at Wasted Space
Wasted Space | 10 p.m. to 11:59 p.m.
-
DJ Boris at Godskitchen
Body English | 10:30 p.m. to 11:30 p.m.
-
Holding on to Sound at Beauty Bar
Beauty Bar | 10 p.m. to 11:59 p.m.
-
Rockabilly Wednesay at Revolution Lounge
Beatles Revolution Lounge | 10 p.m. to 11:59 p.m.
The Sun
Locally owned and independent for more than 50 years.
