PurchasePro.Com Drops Revenue Forecast 43%

PurchasePro.com Inc. slashed its fiscal first-quarter sales forecast 43%, a day after founder and Chief Executive Charles Johnson quit. Shares of the Las Vegas-based company fell 39 cents to close at $2.58 on Nasdaq.

The operator of Internet commerce sites said it expects revenue of $17.1 million for the quarter instead of $29.8 million it projected in a downward revision last month. Before last month’s announcement, analysts were expecting revenue of $41.9 million.