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Tech Industry

IT consulting firm cuts estimates

Pomeroy Computer Resources lowered earning expectations Friday for the first quarter, blaming an industrywide slowdown in technology spending that will slash estimated revenue by as much as 10 percent. The Hebron, Ky.-based company, which provides IT consulting for state and local governments and the insurance and health care industries, predicts first-quarter revenue of $190 million or less, compared with $211.5 million in the same period of 2000. Executives at Pomeroy, which employs 2,000 people in 31 regional offices in the eastern half of the United States, said they're banking on a rebound in the second half of the year. "Our customer relationships remain strong, and we expect a return to our accustomed position of controlled growth as we move into quarters three and four," said Pomeroy President Stephen E. Pomeroy.

Pomeroy Computer Resources lowered earning expectations Friday for the first quarter, blaming an industrywide slowdown in technology spending that will slash estimated revenue by as much as 10 percent. The Hebron, Ky.-based company, which provides IT consulting for state and local governments and the insurance and health care industries, predicts first-quarter revenue of $190 million or less, compared with $211.5 million in the same period of 2000.

Executives at Pomeroy, which employs 2,000 people in 31 regional offices in the eastern half of the United States, said they're banking on a rebound in the second half of the year. "Our customer relationships remain strong, and we expect a return to our accustomed position of controlled growth as we move into quarters three and four," said Pomeroy President Stephen E. Pomeroy.