Short Take: Computer Horizons misses estimates by a penny
Computer Horizons reported second-quarter earnings that missed consensus expectations by a penny. The IT services provider earned $7.2 million, or 23 cents per share, compared to $11 million, or 34 cents per share, excluding items. Revenue jumped 15.5 percent to $142.9 million. Chairman John Cassese said the revenue growth was significant as Y2K project sales declined 60 percent to only 10 percent of the firm's total revenue. Revenue from the firm's E-Solutions group doubled from year-ago levels.
Computer Horizons reported second-quarter earnings that missed consensus expectations by a penny. The IT services provider earned $7.2 million, or 23 cents per share, compared to $11 million, or 34 cents per share, excluding items. Revenue jumped 15.5 percent to $142.9 million. Chairman John Cassese said the revenue growth was significant as Y2K project sales declined 60 percent to only 10 percent of the firm's total revenue. Revenue from the firm's E-Solutions group doubled from year-ago levels.