Internet consulting company Scient reported on Tuesday that it had stemmed its losses on sharply falling sales. The New York-based company posted a net lost of $5.3 million on $21.8 million worth of revenue in the first quarter. Analysts did not provide an outlook for the quarter, according to tracking firm First Call. During the comparable period last year, Scient lost $90.2 million on $27 million in revenue. iXL, whichwith Scient in November, lost $29.8 million on $40.7 million in revenue during the first quarter of last year.
Scient, whicha lease contract in London last month, has asked shareholders to approve a reverse stock split ranging from 10-to-1 to 15-to-1. The company's stock closed down 1 cent in regular trading on the Nasdaq on Tuesday to 18 cents per share.