More NewsNet Perceptions to Miss Q4 Revenue Estimates

Net Perceptions to Miss Q4 Revenue Estimates

The personalization marketer said it expects to come in short of earlier fourth-quarter estimates.

Personalization marketer Net Perceptions said Friday that it expects to miss its earlier fourth-quarter estimates.

The company said it would likely report fourth quarter revenues ranging between $6.3 million and $7.3 million. That’s down from the $8 million to $9 million it originally predicted in October.

Minneapolis-based Net Perceptions also said it expects to report a net loss ranging from $9.5 million to $11 million, or $0.36 to $0.41 per share, before charges. These results compare with revenues of $6.3 million for the fourth quarter ended Dec. 31, 1999, and a net loss of $2.7 million, or $0.13 per share.

“We again saw deals [being postponed to] future quarters,” said chief executive officer Steven Snyder. “And we incurred greater-than-anticipated costs associated with our recent reorganization. Those factors combined with the current economic conditions impacted our quarterly financial performance.”

Despite the troubles, management said that Net Perceptions — which makes personalization software allowing companies to target messaging and Web pages to specific customer profiles — had performed well.

“Although we did not meet our anticipated financial goals, I’m pleased with the progress we’ve made this quarter,” Snyder said. “Specifically, we restructured our field operations organization, implemented new sales processes to focus on larger transactions within the retail sector, and we built a solid sales pipeline for next year.”

The company, which did not give guidance for 2001, also said it anticipates finishing the year with more than $96 million in cash and marketable securities, which should be enough to carry it through to profitability in late 2001.

At press time, shares of NETP were up 4.6 percent in heavy trading, at $2.16. However, that’s well off the company’s 52-week high of $66.5.

Related Articles

GDPR: The role of technology in data compliance

Data & Analytics GDPR: The role of technology in data compliance

3w Clark Boyd
What companies can learn from the We-Vibe lawsuit about the Internet of Things

Legal & Regulatory What companies can learn from the We-Vibe lawsuit about the Internet of Things

8m Al Roberts
Has advertising arrived on Google Home?

Media Has advertising arrived on Google Home?

8m Al Roberts
Is Twitter slowly dying?

More News Is Twitter slowly dying?

9m Al Roberts
FedEx launches fulfillment service to take on Amazon

Ecommerce FedEx launches fulfillment service to take on Amazon

9m Al Roberts
Target is the top retail digital marketer, so why is it struggling?

Ecommerce Target is the top retail digital marketer, so why is it struggling?

8m Al Roberts
YouTube is "on pace to eclipse TV" thanks to savvy algorithm use

More News YouTube is "on pace to eclipse TV" thanks to savvy algorithm use

9m Al Roberts
YouTube is getting rid of 30-second unskippable pre-roll ads

Ad Industry Metrics YouTube is getting rid of 30-second unskippable pre-roll ads

9m Al Roberts