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Stock Watch: Q3 Warning Pounds Promotions.com

By Nora Macaluso
Sep 28, 2000 12:00 AM PT

Promotions.com, Inc. (Nasdaq: PRMO) fell 17/32 to close at 1 15/16 Wednesday after the Internet advertiser, in a statement echoing those of others in the industry, warned of a third quarter loss because of a cutback in spending by businesses.

Stock Watch: Q3 Warning Pounds Promotions.com

Revenue for the quarter will likely be between $6.4 million and $6.9 million, resulting in a loss before charges of $5.8 million to $6.5 million, or 41 to 46 cents per share, the company said.

"The third quarter has been difficult for e-marketing companies," said chairman and chief executive officer Steven H. Krein. "Our top-line estimates reflect the broad slowdown in online ad spending by Internet companies during the third quarter."

The New York-based Promotions.com helps marketers and advertising agencies with their Internet campaigns.

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