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Aspect posts Q1 loss, cut 11 % workforce

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CIOL Bureau
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SAN JOSE: Customer relations portal provider Aspect Communications Corporation on Tuesday said it posted a first quarter loss and would trim an additional 11 per cent of its workforce.



Aspect posted a pro forma net loss of $31.3 million, or 61 cents per share before amortization, stock-related compensation and restructuring charges, compared with pro forma net profits of $3.1 million, or 6 cents, in the year-ago period. The company said March 20 that it expected to post a loss of $37 million to $41 million.



Chairman, President and Chief Executive Beatriz Infante said the company would cut its employee head count by 11 per cent, in addition to the 6 per cent previously announced. It expects to take a $10 million to $12 million restructuring charge in the second quarter.



Aspect expects second quarter revenues to be flat to down 10 per cent from first quarter levels. The company shares closed at $3.99 on the Nasdaq, near a 52-week low of $3.50 and down more than 91 per cent from the 52-week high of $49.38.



(C) Reuters Limited 2001.

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