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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
January 17, 2001
INTERWORLD CORPORATION
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(Exact Name of Registration business as Specified in Its Charter)
Delaware 000-26925 13-3818716
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(State or other Jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification Number)
395 Hudson Street, 6th Floor,
New York, NY 10014-3669
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(Address, including zip code, of Principal Executive Offices)
(212) 301-2500
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(Registrant's telephone number including area code)
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Item 5. Other Events.
Based on preliminary data, all of which is subject to completion of the
Company's year end audit, the Company expects its revenues for the fourth
quarter ending December 31, 2000 will be in the range of $7.0 million to $8.0
million. The loss per share, excluding amortization of stock-based compensation,
is expected to be in the range of $.60 to $.67.
The Company is experiencing continuing effects of longer sales cycles and slower
spending by its customers.
As part of its plan to address changes in its marketplace and improve
operational efficiencies, the Company made selected company-wide staff
reductions in the fourth quarter of 2000 and in the first quarter of 2001. These
reductions, coupled with normal attrition reduced the Company's headcount from
370 at September 30, 2000 to 274 at January 15, 2001. The Company will incur
severance costs in the fourth quarter 2000 and the first quarter of 2001
associated with this action.
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunder duly authorized.
INTERWORLD CORPORATION
Date: January 17, 2001 By: /s/ Michael Donahue
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Name: Michael Donahue
Title: Chairman, President and
Chief Executive Officer
