Wednesday, October 10, 2001
Tristate Summary
Pomeroy stock dips 5 percent
Shares of Pomeroy Computer Resources Inc. slipped 5 percent Tuesday after the Hebron-based computer sales and service provider warned of lower earnings and revenues for the third quarter.
Pomeroy shares closed at $12.34, down 66 cents, after the company said the slowing economy and the aftermath of the Sept. 11 terrorist attacks would reduce third-quarter revenues by 17 percent. The company had previously said it expected third-quarter revenues would be down as much as 10 percent from last year's $247 million.
Third-quarter earnings are expected in the range of 36 to 41 cents a share, down from last year's 65 cents a share for the same period. The company said the outlook for the fourth quarter was still cloudy.
Phar-Mor loses Nasdaq listing
Youngstown, Ohio-based Phar-Mor Inc., which said last month that it will close 65 of its 139 drugstores as part of a Chapter 11 bankruptcy reorganization, said the Nasdaq Stock Market will delist the company's shares Friday.
Nasdaq halted trading in Phar-Mor after the company filed for bankruptcy protection Sept. 24. Phar-Mor won't appeal Nasdaq's decision to delist and might apply for a listing on the OTC Bulletin Board.
— From staff and wire reports
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