RMH Lowers Revenue Projections

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Telemarketer RMH Teleservices, Bryn Mawr, PA, yesterday revised its revenue projections for fiscal year 2001 because an undisclosed major client in the insurance industry reduced an outsourced telemarketing campaign. Total revenue for the first quarter of FY2001, which ended Dec. 31, was $32.8 million, $3 million less than expected. The workload reduction led the company to close some of its facilities. Shares of RMH stock fell $3.75 to $3.25 yesterday, a new 52-week low, after the news was announced.
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