Internet consulting company Lante said it expects to report a wider first-quarter loss. The Chicago-based company said it would post a first-quarter loss between $6.4 million and $7.3 million, or 17 cents and 19 cents per share. Analysts polled by First Call expected the company to report a loss of 12 cents. The company cited tough market conditions for the shortfall but said it continues to gain traction with its new service offerings and growing client roster.
Lante is slated to report first-quarter results April 26. The company said its cash and investment balance at the close of the first quarter, which ended March 31, remains strong at approximately $73 million. The company also promoted William Davis to the position of chief financial officer. Davis replaces Brian Henry, who is leaving the company to pursue other opportunities. Most recently, Davis served as corporate controller for Lante.