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Stock Watch: Q1 Loss Pounds Niku

Stock Watch: Q1 Loss Pounds Niku

By Nora Macaluso
May 22, 2000 12:00 AM PT

Niku Corp. (Nasdaq: NIKU) fell 4 3/4 to 21 1/2 Friday after reporting a wider loss for the first quarter.

The Redwood City, California-based e-commerce company said revenue for the quarter rose to $8.6 million from $400,000 in the same quarter last year, though the net loss widened to $26.9 million, or 54 cents a share, from $2.4 million, or 42 cents. Before special items, the company lost $13.1 million, or 19 cents a share, compared with $2.0 million, or 7 cents.

Chairman and Chief Executive Officer Farzad Dibachi said the company is "bullish" on the market for its products and its position in the market.

Niku went public in February at $24 a share, raising about $205 million after expenses. The company provides Internet software and operates an online marketplace for the sourcing, management and delivery of professional services.


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Does technology create more jobs than it destroys?
Yes - The jobs new technologies create outnumber those lost due to machines replacing humans.
No- Companies fixated on cost-cutting are building workforces of robots and computers instead of people.
Performance Matters: 9 Key Consumer Insights