Infonet Reduces Quarterly Forecast

Infonet Services Corp., a provider of corporate communications services, said it expects fiscal first-quarter earnings to trail analysts’ estimates and will reduce its outlook for fiscal 2002.

The El Segundo-based company said it still is evaluating numbers and will release details Aug. 6, along with its earnings report for the quarter that ended in June. The reduced forecast is based on results from Infonet’s European operations and its AUCS sales channel, the company said.

Infonet, whose shares have fallen 54% in the last year, also said it will make unspecified personnel changes.

The company’s shares closed up 15 cents to $6.42 on the NYSE, before the announcement.