|
![]() ![]() ![]() |
4. SAPIENT CORP. The ride slows as dot-coms slide 5/22/2001
Between 1999 and 2000, consolidated revenue jumped 82 percent, to $503 million, while net earnings rose 55 percent, to $47 million, according to the company's annual report.
2000 was also a good year for the Cambridge-based consulting company, because it became the first Internet services firm to make it onto the Standard & Poor's 500 index, and it ranked number one in an e-commerce report from
Forrester Research.
But those developments fail to describe what's been happening more recently for the company, as it suffers along with others hurt by the dot-com meltdown.
For instance, based on a one-year review of change in profit margin, revenue, change in revenue, and return on average equity, Sapient slipped in its overall Globe 100 ranking, falling from 18th last year to 42d this year.
And based on the first quarter of 2001, this year looks to be even more difficult. After charges for restructuring, stock-based compensation, and other items, Sapient's first-quarter net loss totaled $48.3 million, or 39 cents a share.
''While we are satisfied that our results were in line with previous guidance, it is clearly a challenging market, and our financial performance reflects that,'' said chief financial officer Edward G. Goldfinger in a statement made when earnings were announced May 3.
''The combination of our strong balance sheet and the restructuring actions we took will allow us to continue to invest in our core strategic initiatives.''
The company employs about 2,600 people in offices around the world, from London to Milan to Tokyo. Its clients have included the American Cancer Society, Fidelity, and Lucent Technologies.
DOLORES KONG
|
|
Advertisment |
|
||
![]() Extending our newspaper services to the web |
Return to the home page
|
![]() |