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Tech Industry falls 26 percent on sales warning was whacked out of orbit 26 percent Friday. Internet investors got some bad news late Thursday when Inc. (Nasdaq: TGLO) warned that its third-quarter sales will fall short of analysts' estimates.

    Shares were down 3 9/16 to 10 1/16 after company officials said it now expects sales of between $4.7 million to $4.9 million in the quarter, slightly below most analysts estimates of around $5.1 million.

    The online network, said development of, a network of e-mail clubs based on user interest, and uPublish, a homepage and Web site builder, took longer than expected. It also announced plans to boost the two products by launching a $27 million marketing campaign to run from November through the fourth quarter of 2000.

    Of course, this shortfall will still represent a 200 percent improvement versus the year-ago quarter. And officials are quick to point out that it will meet analysts' earnings estimates.

    Loss estimates they must mean.

    First Call consensus expects it to lose 34 cents a share in the third quarter and $1.25 a share in the fiscal will report its third-quarter earnings on Nov. 3.

    The stock has steadily unraveled since it split 2-for-1 in May. After peaking at 48 1/2 in April, its shares fell to an all-time low of 9 3/4 in August.

    Last quarter, it lost $6.7 million, or 27 cents a share, on sales of $4.1 million.