By Ben King, 4 May 2001 11:45
NEWS Razorfish posted a net loss of $6.6m, less than analysts expected but feeble in comparison to last year's figure of a $6.5m profit. Another Razorfish founder, Craig Kanarick, will also be resigning from his position as chief strategic officer. Both he and Dachis will remain on the board as co-chairmen and directors. The company's shares closed down 24.22 per cent yesterday at $1.22, nearly 97 per cent off their historic high. Razorfish has been cutting staff since the beginning of the year in a bid to remain profitable amid falling demand. Razorfish remains in a better position than many internet consultancies in a sector which has been decimated by the dot-com slump. Last month, MarchFirst closed its US operation, and yesterday Sapient warned of a wider than expected loss, with revenues dropping off at an alarming rate.
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