E-mail marketer NetCreations (Nasdaq: NTCR) Wednesday cut its earnings and revenue estimates for the fourth quarter due to the slumping online advertising market.
Shares of the company, which was acquired by DoubleClick (Nasdaq: DCLK) in October, finished yesterday's session down 13 cents to 6.
Before charges, the company says it now expects earnings of nil to 2 cents per diluted share. Including one-time charges, NetCreations projects a fourth quarter loss of 4 to 6 cents per diluted share. First Call analyst consensus called for a profit of 11 cents for the period.
Revenue estimates for the quarter were also cut. NetCreations' revised net revenue is expected to be between $12 million and $14 million.
In a statement, the company blamed tough conditions in the Internet advertising market for the cuts to revenue and earnings. Chairman and CEO Rosalind Resnick also said that the company had not yet seen the traditional bump in holiday spending in the fourth quarter.
Back in September, NetCreations also warned for its third quarter but was able to meet reduced analyst estimates. Upon release of its third quarter results, the company indicated that the dot-com slowdown would affect results for the fourth quarter and 2001.
Reuters contributed to this story.
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