Netscape Barely in the Black
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While revenues were up for Netscape in its third-quarter report, its net income shows that the company barely broke even.
The firm announced earnings of $150.2 million for the three months ending July 31, 1998, an 18% increase over revenues posted during the quarter ended April 30, 1998. The company reported its net income for the third quarter was $88,000 as compared to a loss of $44.7 million the year previous.
Netscape's operating loss was $2.1 million for the quarter, down from $10.1 million for the preceding quarter ended April 30, 1998.
"Overall, we are pleased with the results we posted for the quarter," said Jim Barksdale, president and chief executive officer, in a statement. "We're seeing strong momentum in both the Enterprise software and Netcenter businesses as demonstrated by the number of significant customer wins announced during the quarter including Ford, Visteon, Digital Equipment Corporation, Bay Networks, Fujitsu, Citibank, America Online, Excite, Looksmart, Lycos, Infoseek, and Altavista."
Netscape also announced today that Bill V. Campbell, Intuit's chairman, will join Netscape's board of directors. He replaces John E. Warnock, chairman and CEO of Adobe Systems, Inc.