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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.

Stock Watch: Q1 Loss Pounds Niku

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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How do you feel about accidents that occur when self-driving vehicles are being tested?
Self-driving vehicles should be banned -- one death is one too many.
Autonomous vehicles could save thousands of lives -- the tests should continue.
Companies with bad safety records should have to stop testing.
Accidents happen -- we should investigate and learn from them.
The tests are pointless -- most people will never trust software and sensors.
Most injuries and fatalities in self-driving auto tests are due to human error.