TAMPA -- Sykes Enterprises Inc. was the stock market's biggest percentage loser Tuesday, a day after predicting its third-quarter earnings would fall far short of Wall Street's expectations.

Tampa-based Sykes, whose employees in 42 phone centers around the world help computer and telecommunications users solve problems, saw its stock plunge to $6.99 Tuesday from $12, a 42 percent drop. Its market value shrank by roughly $200-million to $278-million.

Analysts had predicted the company would earn 10 cents per share in the quarter ending Sept. 30, according to First Call/Thomson Financial. But Monday evening, Sykes predicted third-quarter earnings of 3 cents to 5 cents per share. The company declined to predict fourth-quarter performance. It also revealed it will restate its 1998 and 1999 earnings a third time, thanks to a small but embarrassing accounting error.

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St. Petersburg Times

-- Anonymous, August 03, 2001