Management and technology consulting for big companies has always seemed like a sweet deal. A consulting firm hires a lot of people with high IQs, usually from Harvard Business School, and then sends them to companies where management is not smart enough to solve their own problems.
BearingPoint (BE) is in this business. As they say "BearingPoint Gets Things Done. Differently" That is an understatement. It has treated its shareholders differently. That is for certain. The stock is down from $9 last September to well under $5. Let’s hope the company treats its customers better.
BearingPoint "said it could not file its results on time due to a significant delay in completing its financial statements for the year ended Dec. 31, 2006," according to Reuters. The is probably not a good sign for a consulting company full of very smart people. It did file results for its March 31 quarter last week. The Associated Press reports The company recorded a net loss of $61.7 million, or 29 cents per share for the quarter, compared with a loss of $72.7 million, or 34 cents per share, in the same period a year earlier. Revenue grew 4 percent to $866.3 million from $833.7 million.
As it turns out, that was below Wall St.’s expectations.
The company may want to move some of its egg heads to the accounting department.
Douglas A. McIntyre
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
