RealTime IT News

CFO Departs Beleaguered Outpost

Three days after beleaguered Internet computer retailer Outpost.com let go 110 workers and replaced its CEO, the company's chief financial officer has resigned.

Cyberian Outpost , its stock down to about 30 cents a share, issued a terse one-paragraph press release today saying that chief financial officer Paul D. Williams, III had resigned and that his duties have been assumed temporarily by Michael Dylag, vice president of finance and administration and Michael Bishop, director of financial reporting.

The company also said that Williams has agreed to assist the company as a consultant and the accounting firm Deloitte & Touche is also assisting in a financial advisory capacity.

On Monday, president and chief executive officer Katherine Vick was replaced by company chairman and founder, Darryl Peck.

Outpost reported a net loss of $9.5 million, or 30 cents per share for the fourth quarter that ended Feb. 28, on sales of $120.9 million. The company said market conditions made it difficult to secure equity and working capital financing.