Sapient predicts services revenue will increase from third to fourth quarter
Associated Press
11/05/09 8:00 PM EST
BOSTON — Sapient Corp., which helps companies with technology needs, said Thursday that services revenue would rise sequentially in the fourth quarter.
The company said services sales would range from $172 million to $175 million in the fourth quarter. They were $165.5 million in the third quarter.
Services account for nearly all of the company's revenue.
Sapient also said the operating profit margin in the fourth quarter, excluding certain costs, would be 10 percent to 11 percent.
The company gave the outlook as it released third-quarter results, which showed a steep decline in profit from a year ago. The company earned $5.9 million on sales of $172.5 million, compared with $18.1 million on sales of $184.1 million in the same period of 2008.
Sapient shares rose 32 cents, or 3.9 percent, to $8.60 in regular trading, then gained another 20 cents, or 2.3 percent, to $8.80 in extended trading after the company reported financial results.
