Organic Inc. (Nasdaq: OGNC) was down 1/2 at 4 1/4 early Thursday after announcing it will not reach its goal of attaining a profit in the third quarter.
“The industry, in general, seems to be experiencing a temporary lull,” said Jonathan Nelson, chairman and chief executive officer of the San Francisco, California-based company. Organic’s warning followed similar statements from other Internet consulting firms, which also expect lower results as companies cut back on e-business spending.
Organic said revenue for the quarter will be about 5 percent ahead of the second quarter’s $37.2 million, and it now expects to post a profit by the second quarter of next year. Results for the quarter ending September 30th will be reported October 23rd.