Thinkpath Reports Q1 Net Loss Of $625,000 On $10.6 Million Revenues

Toronto-based information technology-and-engineering services company Thinkpath Inc./(NASDAQ:THTH), reported revenues of $10.6 million for the first quarter ended March 31, 2001, an increase of 5 percent over revenues of $10.1 million from the first quarter of a year ago. The company reported a net loss of $625,000 for the first quarter 2000, after including all one-time cash and non-cash charges of $850,000 due to restructuring costs, including a $300,000 for severance costs and $550,000 in non-cash charges relating to financing activities. Thinkpath reduced headcount by 35 in the first quarter in response to a slowing economy.