Galaxy Z Flip 4 Preorder Quest 2: Still the Best Student Internet Discounts Best 55-Inch TV Galaxy Z Fold 4 Preorder Nintendo Switch OLED Review Foldable iPhone? 41% Off 43-Inch Amazon Fire TV
Want CNET to notify you of price drops and the latest stories?
No, thank you

Critical Path names new CFO, reiterates outlook

The Internet messaging services provider said Lawrence Reinhold will replace Mark Rubash, who resigned due to a family illness, as its new chief financial officer.

Reinhold formerly served as managing partner at PricewaterhouseCoopers.

Ahead of the announcement, Critical Path (Nasdaq: CPTH) shares closed off $1.06 to $27.94.

The company also reiterated its previous guidance of a slight profit in its fourth quarter and fiscal 2001.

Earlier this quarter, Critical Path told analysts to expect sales of between $300 million to $310 million in fiscal 2001, up 95 percent from fiscal 2000.

First Call Corp. consensus expects it to earn 1 cent a share in its fourth quarter and 40 cents a share in fiscal 2001.

"We are extremely excited to have Larry join the Critical Path leadership team," said CEO Doug Hickey in a prepared release. "We selected Larry for three important criteria: experience managing growth and expanding margins, hands on leadership, and fit within the CP team and the dynamic market opportunity."

Last quarter, Critical Path posted a pro forma loss of 14 cents a share on sales of $44.9 million.

The stock moved as high as $119.50 in March before sliding to a low of $19.38 in November.

All 16 analysts tracking the stock rate it either a "buy" or "strong buy."