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Article: Revenue Growth Shields McLean, Va., Information Technology Firm.(Originated from The Washington Times)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- November 3, 1997
- Author:
CopyrightCOPYRIGHT 1997 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Nov. 3--Investors may have trillions of dollars tied up in stocks, but BDM International in McLean learned all too well that Wall Street still recognizes the value of a penny.
The information technology services company released on Oct. 22 earnings for the July-September quarter of $6.3 million, or 21 cents a share. But the consensus expectation from Wall Street was 22 cents a share, and with American markets in a heavy state of flux over economic unrest in Asia, BDM received no tolerance. Its stock fell 14 percent the next day to $22.50 a share.
"That's all it takes these days," said Thomas Browne, an analyst with Prudential Securities.