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MapInfo sees first-quarter loss

MapInfo Corp., which makes geography-based software, on Friday said it expects a fiscal first-quarter loss due to soft technology spending, longer customer decision cycles and the global economic slowdown. The company forecast a loss of 10 cents to 13 cents a share on revenue of $22.0 million to $23.0 million. It earned 14 cents a share in the year-earlier first quarter, according to market tracker Thomson Financial/First Call. MapInfo, based in Troy, New York, said the first-quarter level of activity was as expected, although many customers have postponed decisions into 2002. “We are now reviewing the business and working toward adjusting the allocation of resources between our existing core business and our growth opportunities,” Chief Executive Mark Cattini said in a statement. Full first-quarter results will be reported Jan. 22. The company said it expects to discuss its plans and prospects in a conference call that day.