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Proxicom misses estimates, posts loss

Internet consulting company Proxicom on Friday posted a first-quarter loss that missed estimates as the company gears up to close its acquisition deal with Compaq Computer. For the quarter, Reston, Va.-based Proxicom said its pro forma net loss came in at $7.6 million, or 13 cents per share, compared with a profit of $2.7 million, or 4 cents per share, in the same period a year ago. Analysts surveyed by First Call projected the company to lose 12 cents in the quarter ending March 31. Proxicom, which last month agreed to be acquired by Compaq, said quarterly revenue was $39.1 million, slightly up from $38.2 million in last year's first quarter. Proxicom also recorded a one-time charge of $57 million related to restructuring expenses in the quarter. The company said its first-quarter results reflected the overall slowdown in its sector, but believes it is well positioned to nab new business going forward.

    Internet consulting company Proxicom on Friday posted a first-quarter loss that missed estimates as the company gears up to close its acquisition deal with Compaq Computer. For the quarter, Reston, Va.-based Proxicom said its pro forma net loss came in at $7.6 million, or 13 cents per share, compared with a profit of $2.7 million, or 4 cents per share, in the same period a year ago. Analysts surveyed by First Call projected the company to lose 12 cents in the quarter ending March 31. Proxicom, which last month agreed to be acquired by Compaq, said quarterly revenue was $39.1 million, slightly up from $38.2 million in last year's first quarter.

    Proxicom also recorded a one-time charge of $57 million related to restructuring expenses in the quarter. The company said its first-quarter results reflected the overall slowdown in its sector, but believes it is well positioned to nab new business going forward.