CIRCLE’S DROP IN EARNINGS DUE MOSTLY TO Y2K COSTS
Circle International Group reported net income of $1.9 million for
the
first quarter ending March 31, compared to $5.4 million for the same period
last year.
The San Francisco-based company blamed the drop in earnings on a Year
2000 programming charge of $3.2 million, and other charges for computer
upgrades and a sales-force expansion.
Revenues for the first quarter rose 11 percent to $182.9 million.