Providian Financial Corp. had a fourth quarter net loss of $481 million on revenue of $1.22 billion, compared with $214 million in net income and $1.65 billion in revenue during fourth quarter 2000.
For the year, the company had net income of $38.9 million and revenue of just under $6.3 billion, compared with net income of $651.8 million and revenue of $5.76 billion. The quarter and the year ended Dec. 31.
“We are working on longer term marketing strategies and expense reduction initiatives that will allow us to capitalize on our core competitive advantages and return to growth and profitability,” Joseph Saunders, Providian
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