Compuserve has warned investors that its losses this quarter will be worse than expected, due to a delay in shipping new client software for its primary online service, a spokesman says.
Company officials expect losses for the quarter that ends October 31 to be 22 to 27 cents per share, says Steve Conway, Compuserve spokesman. Earlier, the company warned of a 10 cents to 15 cents per share loss. The company will report its results the week of November 18.
The new Compuserve 3.0 client was expected to ship in September, but was delayed until this month, Conway says. Officials expect the new client to reduce the number of subscriber cancellations. Compuserve Interactive added 350,000 new subscribers during the first two months of this year, officials say. Due to customer cancellations, however, the service wound up with a net loss of 44,000 subscribers, leaving it with roughly 3 million subscribers.
Compuserve can be reached on the World Wide Web at http://www.compuserve.com.