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Emergent Posts 3rd-Quarter Loss of $28.4 Million

November 17, 2000

Emergent Information Technologies Inc., a Newport Beach provider of information technology, modeling and simulation services and systems engineering, reported a third-quarter net loss of $28.4 million, or $1.73 a share, which included a cash charge of $600,000 and a noncash charge of $28.9 million for discontinued operations. In contrast, Emergent turned a profit of $735,000, or 5 cents a share, in last year's third quarter. Revenue grew 4% to $27.9 million. The company said it has hired an investment banking firm to help sell its commercial software products.

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