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Quarterly Results Show Quick About Face Not Likely

AUSTIN-Q3 reports show a turnaround is far from being just around the corner. Few companies, if any, are thinking about space needs. For Concero Inc., that means spending $600,000 a quarter for vacant space that it hasn't been able to lease.

By Tim Green | Updated on October 19, 2001

AUSTIN-In the biggest batch of earnings reports from Austin companies in a range of industries, there were few glimmers of hope for a turnaround and little need for more space.

In fact, one company, Concero Inc., said it would continue to spend $600,000 a quarter for office space it’s not using and hasn’t been able to sublease. The firm, which provides Internet-related consulting services, has 94 employees remaining from its 508-employee workforce in place at the third quarter 2000 end. The company’s headquarters are located at 6300 Bridgepoint Parkway Building 3, an 80,000-sf building, in the northwest submarket.

Executives at Active Power Inc., which makes power-related equipment, said the company began churning out goods from its new 157,000-sf manufacturing facility in the north submarket. It definitely has no plans for additional space.

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