Internet consultancy iXL Enterprises, which posted first-quarter results that matched Wall Street's expectations, said it is in a good position to regain some of its lost momentum. Atlanta-based iXL, which helps clients with Web development and their Internet strategies, said its first-quarter loss was $25.3 million, or 32 cents a share, compared with a profit of $2.1 million, or 3 cents a share, in its year-ago period. Analysts polled by First Call expected a loss of 32 cents. Revenue came in at $40.7 million for the quarter, compared with $101.3 million in the same period a year earlier.
Equipped with a new CEO, several new executive hires and new clients, iXL said that in the upcoming quarters it plans to make up some ground that it lost. Like other niche Internet consulting players, iXL has been struggling to survive the sudden downturn for its services, hurt by a series of lackluster quarters and layoffs.