Business Services Industry
Two Seattle-Area Tech Firms' Warnings Punish Stock.
Knight Ridder/Tribune Business News, January, 2002
By Monica Soto, The Seattle Times Knight Ridder/Tribune Business News
Jan. 9--Two local technology companies yesterday said they would miss fourth-quarter financial projections, prompting layoffs at one and driving down stock prices of both.
Bellevue-based Western Wireless saw its shares fall 23 percent after it said its fourth-quarter revenue and subscription rates would be lower than expected. The stock fell $5.88 on the Nasdaq Stock Market, closing at $19.75, a new 52-week low.
Shares of another Bellevue company, Bsquare, also fell after the company said it would miss fourth-quarter revenue and net-loss projections, and that it laid off 100 workers, or 20 percent of its staff.
Western Wireless, which sells mobile-phone service...
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