Up and Down with Leapnet

Leapnet, a Chicago-based i-shop, said this morning that first quarter revenues rose 20 percent, to $9.4 million, against a year ago, while its net loss grew to $15.5 million from $2.2 million in the same period last year. Leapnet said its first-quarter losses included a $3 million non-cash charge related to its acquisition last May of SPR Inc., an IT consulting company. Additionally, the company paid a $3.5 million restructuring charge associated with its recent round of layoffs and closing of some facilities.

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