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Egghead.com, Inc. (Nasdaq: EGGS) was down 19 cents at $1.03 early Friday after the software e-tailer said sales for the last quarter of 2000 will be lower than previously thought.
The company said it still expects a loss of 23 to 25 cents per share for the quarter ended December 31st, better than the 41 cents analysts were predicting.
Revenue, however, will be $91 million to $93 million, below previous projections, because of "a softening of consumer demand for personal computers and related technology products," Egghead said.
"We are pleased with the progress in our business accounts program, which offset some of the downward pressure on margins as a result of seasonal factors and our promotion activities," said president and chief executive officer Jeff Sheahan. "This, combined with expense reductions, enabled us to reduce our operating losses for the fifth consecutive quarter as we continue our march toward profitability in the fourth quarter of this year."
As part of its plan to cut costs, Egghead announced in September that it would move 20 percent of its staff from Silicon Valley to Vancouver, Washington.
The company has also been recently hit with a high-profile hack attack. In December, Egghead said that a hacker had breached its security system and entered its computer database. However, the company said last week that an investigation showed no credit card information was stolen.
Egghead said it has taken steps to beef up its security system in light of the incident.
Based in Menlo Park, California, Egghead sells computer hardware and
software, consumer electronics and other products over its Web site.
The company plans to report results on February 22nd.
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