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Tech Industry

Scient sets 2-for-1 split

E-commerce services provider Scient Corp. (Nasdaq: SCNT) said late Wednesday that its board of directors approved a 2-for-1 stock split. Its shares closed off 11 1/4, or 8 percent, to 126 7/16.

Scient officials said the split will take affect Dec. 3 for all shareholders of record on Nov. 15.

After the split, Scient will have more than 70 million shares of common stock outstanding.

In its latest quarter, Scient beat Street estimates, posting a loss of $1.6 million, or 4 cents a share, on sales of $30.8 million.

First Call consensus expected Scient to lose 6 cents a share in the quarter.

The stock split comes on the eve of the company's first analyst conference in San Francisco.

Shortly after its initial public offering in May, Scient shares fell to a low of 27 3/4 before rallying up to a high of 145 in October.

Analysts expected the San Francisco company to lose 4 cents a share in the third quarter and 18 cents a share in the fiscal year.

All eight analysts tracking the stock maintain either a "buy" or "strong buy" recommendation.