Neoforma, San Jose, Calif., the e-commerce partner of Novation, reported a $14.5 million net loss, or 75 cents per share, on revenue of $3 million in the third quarter ended Sept. 30. That compared with a $15.6 million net loss, or 85 cents per share, on revenue of $3 million in the year-ago quarter. For the nine months, Neoforma lost $46 million, or $2.40 per share, on $9 million revenue, an improvement from the $50 million loss, or 2.76 cents per share, on $8 million revenue in the year-ago period. The company fell short of revenue expectations and revised its guidance, reducing projected 2004 revenue to as low as $11.8 million from the previous projection of $13.3 million. It raised its expected loss for 2004 to as much as $63.7 million from the previous guidance of $62.9 million. Still, Neoforma said strong cash flow strengthened its balance sheet and that it made good operational progress in the third quarter, connecting to 715 hospitals and documenting its value to customers. by Cinda Becker
Neoforma's quarter less than hoped, lowers outlook
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