ICG Group Inc. lost $3 million during third quarter and the venture capital firm on Thursday cited delays in contract signings. However, shares plunged 13 percent when its revenue forecast.
The company lost 8 cents per share, compared to a profit of $1.8 million, or 5 cents per share, during the same period last year.
Revenue during the quarter was $35.1 million, compared with $30.2 million during the prior year period.
ICG Group said it expects have revenue between $138 million and $140 million for the full year.
ICG Group invests in new manufacturing and outsourcing technology. It usually invests between $10 million and $30 million in startup companies it thinks will be profitable.
The company said it bought back 774,327 shares of its stock for $7.8 million during the quarter.
Shares of ICG Group fell $1.32 to $8.88 in afternoon trading.
